Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5912 in a high volume. After the cash rate decision in New Zealand last night the massive supply came in on the market. I found very high volume supply and very strong price action. Buying EUR/NZD at this stage looks risky. According to the 30M time frame, I found up-thrust bars, which are good indication of further downward movement. The first take profit level is set at the price of 1.5915.
Fibonacci Pivot Points:
Trading recommendations for today: there is strong downward pressure on the market. Watch for selling opportunities on the pullbacks.