InstaForex - Analytics

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    Elliott wave analysis of EUR/NZD for July 28, 2015

    2015-07-28-EURNZD-4H.png

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    Technical summary:

    A flat correction is nicely unfolding. We saw the top of wave b at 1.6808. Now we are looking look for wave c moving lower to 1.6325 or just below to end wave 2 and set the stage for wave 3 higher.

    In the longer term, we continue to look for much higher levels with 1.7277 being the next major upside target.

    Trading recommendation:

    We will look for a buying opportunity as wave c of 2 progresses.


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