FX.co ★ EUR/NZD analysis for January 16, 2017

Recently, EUR/NZD has been moving sideways at the price of 1.4943. I found a fake breakout of the support, which is a sign of strength. According to the 30M time frame, I found bullish divergence on a moving average oscilator. My advice is to watch for buying opportunities. Take profit levels are set at the price of 1.4995 and 1.5065. Using the market profile, I found a P-shape, which is a sign of strength.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4980

R2: 1.5000

R3: 1.5040

Support levels:

S1: 1.4900

S2: 1.4875

S3: 1.4835

Trading recommendations for today: Watch for potential buying opportunties.