InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    Elliott wave analysis of EUR/NZD for March 20 - 2015

    2015-03-20-EURNZD-4H.png

    Show full picture

    Technical summary:

    We have seen a move lower, and the break below minor support at 1.4367 does argue for more downside pressure towards at least 1.4048 and more likely lower towards 1.3846. However, the decline from 1.4437 is not yet overly convincing, but we are going to let bears have the benefit of the doubt for now. Short-term resistance at 1.4437 needs to protect the upside for a continuation lower. A break above 1.4437 will call for more upside towards 1.4557.

    Trading recommendation:

    We are short EUR from 1.4545 and will move our stop lower to 1.4445. If you are not short EUR yet, then sell near 1.4437 with the same stop.

    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