InstaForex - Analytics

    InstaForex

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    Elliott wave analysis of EUR/NZD for April 5 - 2016 2016-04-05

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    Wave summary:

    It finally looks as this cross is beginning to accelerate. In the short term, we expect that minor support at 1.6682 will be able to protect the downside for a continuation higher to minor resistance at 1.6874 and above here it will confirm a continuation higher to 1.7220 on the way towards our long-term target at 1.8550.

    If minor support at 1.6682 is broken, then back-up support is seen just below at 1.6624.

    Trading recommendation:

    We are long from 1.6250 and will move our stop higher to 1.6600. If you are not long yet, then buy near 1.6682 and use the same stop at 1.6600.


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