InstaForex - Analytics


    736.75 6.25/10
    62% of positive reviews

    Elliott wave analysis of EUR/NZD for November 2 - 2015


    Show full picture

    Wave summary:

    We still think that the best wave count is that a bottom of the corrective decline from 1.9114 was found at 1.6124, but the move higher does look very convincing. A break above resistance at 1.6515 will do the job and call for a continuation higher to 1.6950 and above.

    However, as long as resistance at 1.6515 is able to protect the upside, the risk remains that a new low below 1.6124 could be seen. The downside target would then be 1.6024.

    Trading recommendation:

    Our stop at 1.6180 was hit and we will stay neutral for now.

    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