InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    Elliott wave analysis of EUR/NZD for February 6 - 2015

    2015-02-06-EURNZD-4H.png

    Show full picture

    Technical summary:

    Our call for a correction in wave (ii) towards 1.5354 has been right in the "bulls eye". With a low at 1.5341 it doesn't get much better than that. We are now looking for a break above minor resistance at 1.5538 as the first indication that wave (ii) is over and wave (iii) is developing. To confirm that wave (iii) indeed is in motion, a break above resistance at 1.5712 is needed and would call for an acceleration towards at least 1.6853. In the short term, we will be looking for minor support at 1.5407 to protect the downside for the break above 1.5538. Only a break below the 1.5354 low, would delay the expected rally higher towards 1.6853.

    Trading recommendations:

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree