InstaForex - Analytics


    740.25 6.25/10
    63% of positive reviews

    Elliott wave analysis of EUR/NZD for March 26 - 2015


    Show full picture

    Technical summary:

    The expected rally has worked just the way we anticipated. As red wave ii was flat, we are looking for extension in red wave iii and that calls for minimum 1.4583 and possibly even more upside towards 1.4649 before a correction in red wave iv. After a minor correction in red wave iv, a final rally higher to 1.4798 is expected to end the first impulsive rally from the bottom at 1.4128. The fact that we have already broken above the channel resistance-line is also encouraging.

    Trading recommendation:

    We are long EUR from 143.15 and we will move our stop higher to 1.4375. We will place take profit at 1.4775. If you are not long EUR yet, then buy near 1.4440 with the same stop at 1.4375

    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