InstaForex - Analytics

    InstaForex

    734.75 6.25/10
    62% of positive reviews
    Real

    Elliott wave analysis of EUR/NZD for April 17 - 2015

    2015-04-17-EURNZD-4H.png

    Show full picture

    Technical Summary:

    We have seen a new low at 1.3979 and wave five decline can be counted from 1.4547. So, we are getting closer to the bottom. However, as long as minor resistance at 1.4105 is protecting the upside, we will be looking for a move lower towards 1.3867 and maybe even lower to 1.3687 before the final low is in place. A break above 1.4105 is likely to be the first indication that a bottom could be in place.

    Trading recommendation:

    We are short EUR from 1.4145 and will move our stop reverse of the EUR position lower to 1.4115. If our stop reverse is hit at 1.4115 our new stop will be placed 5 pips below the bottom.

    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