FX.co ★ EUR/NZD analysis for October 28, 2016

Recently, EUR/NZD has been moving sideways at the price of 1.5280. On 30M time frame and using the market profile, I found a neutral profile but with weakness in the background. I placed Fibonacci expansion to find potential downward target points. I got Fibonacci expansion 100% at the price of 1.5240 and Fibonacci expansion 161.8% at the price of 1.5185. Watch for selling opportunities on the pullbacks.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5340

R2: 1.5370

R3: 1.5424

Support levels:

S1: 1.5235

S2: 1.5200

S3: 1.5150

Trading recommendations for today: Watch for potential selling opportunities on the pullbacks.