InstaForex - Analytics


    736.75 6.25/10
    62% of positive reviews

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




    Show full picture


    Technical summary:

    Wave c of the expanded flat correction continues to unfold as expected. We are looking for a bottom for wave c at 1.4725. Short term, we expect minor resistance near 1.5062 will protect the upside for a break below support at 1.4995 for a continuation lower to 1.4725.

    It will take an unexpected break above resistance at 1.5208 to indicate a bottom for wave (ii) already is in place.

    Trading recommendation:

    We will sell EUR at 1.5050 or upon a break below 1.4995 with stop placed at 1.5195.

    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