FX.co ★ EUR/NZD analysis for June 27, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.5590. There is strong supply in an ultra high volume in the background. According to the 30M time frame, I found that price is in a trading range. I found a symmetrical triangle. Therefore, the EUR/NZD is in a downward trend, I would look only for potential selling opportunities if the price breaks symmetrical triangle support (1.5570). Buying looks risky, watch for selling opportunities if the price breaks a symmetrical triangle.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.5770

R2: 1.5860

R3: 1.6015

Support levels:

S1: 1.5465

S2: 1.5370

S3: 1.5220

Trading recommendations for today: Watch for selling opportunities if the price breaks support from the symmetrical triangle.