InstaForex - Analytics


    739.75 6.25/10
    62% of positive reviews

    Elliott wave analysis of EUR/NZD for March 17, 2016 2016-03-17



    Show full picture



    Wave summary:

    We have moved closer to important support at 1.6470 which should protect the downside for a new rally above 1.6715 and, more importantly, above resistance at 1.6874 confirming a rally towards 1.7220 and higher.

    A break below 1.6470 will not invalidate the bullish bias, but merely delay the expected upside rally. Only a break below important support at 1.6197 will invalidate the bullish outlook.

    Trading recommendation:

    We are long in EUR from 1.6595 with a stop placed at 1.6460. If you are not long in EUR yet, then buy near 1.6470 and use the same stop at 1.6460 or buy a break above minor resistance at 1.6874.

    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