InstaForex - Analytics


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    Elliott wave analysis of EUR/NZD for July 1 - 2015


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    Technical summary:

    A previous top at 1.6587 has kept prices in check for now, which indicates more correction in wave iv towards 1.6017 before the final rally higher in wave v towards 1.7146. It will take an unexpected breakout below the support at 1.5792 to alter the count that hasbeen working well for us since the 1.3880.

    Trading recommendation:

    We are sidelined for now, but will buy on a break above 1.6577.

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