InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    Elliott wave analysis of EUR/NZD for March 3 - 2016 2016-03-03

    analytics56d7c2c985502.png

    Show full picture

    Wave summary:

    This cross again did, what it has done many times lately. It stages the first minor signal that the correction in wave [ii] was over and then took a new dive to new lows, this is pretty confusing. The break to a new low, does call for a move closer to 1.6110 before the next rally above minor resistance at 1.6475 and more importantly a break above 1.6637 confirming that wave [iii] higher finally is developing.

    Trading recommendation:

    We will buy EUR at 1.6125 or upon a break above 1.6475. If our buy-order at 1.6125 is filled our stop will be placed at 1.5790.


    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