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08.12.201614:00 Forex Analysis & Reviews: EUR/NZD analysis for December 08, 2016

Long-term review

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Recently, EUR/NZD has been moving downwards. The price tested the level of 1.4905 in a high volume. According to the 30M time frame and using the market profile. I found yesterday's point of control at the price of 1.5048. I also found absorption volume and the price is trading above 21SMA. Be careful when selling EUR/NZD and watch for buying opporutnities. First upward target is set at the price of 1.5048.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5050

R2: 1.5080

R3: 1.5110

Support levels:

S1: 1.5000

S2: 1.4980

S3: 1.4950

Trading recommendations for today: Consider buying opportunities.

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