InstaForex - Analytics


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    Elliott wave analysis of EUR/NZD for July 1 - 2016


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    Wave summary:

    Wave (ii) is taking longer than we expected. In the short term, we are looking for a break above minor resistance at 1.5600 confirming another rally closer to 1.5816 to complete a flat correction as wave (ii). From 1.5816, the next impulsive decline lower to 1.4490 is expected.

    Trading recommendation:

    We will sell EUR at 1.5805 with stop placed at 1.5875.

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