FX.co ★ EUR/NZD analysis for December 09, 2016

Recently, EUR/NZD has been moving downwards. The price tested the level of 1.4726 in a high volume. According to the 30M time frame and using the market profile. I found today's point of control at the price of 1.4790. Sellers are in control on EUR/USD. Watch for selling opportunties. The price broke the yesterday's low, which is sign of weakness. I placed Fibonacci expansion to find potential downward targets. I got Fibonacci epxansion 61.8% at the price of 1.4620 and Fibonacci expansion 100% at the price of 1.4500.

Fibonacci Pivot Points:

Resistance levels

R1: 1.5005

R2: 1.5080

R3: 1.5200

Support levels:

S1: 1.4760

S2: 1.4680

S3: 1.4560

Trading recommendations for today: Consider selling opportunities.