InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    Elliott wave analysis of EUR/NZD for January 5 - 2015

    2015-01-05-EURNZD-D.png

    Show full picture

    Technical summary:

    The correction from 1.5472 has turned into an expanded flat correction and with the test of 1.5679 no more correction is needed, but to confirm that the correction is over, a break below 1.5572 is needed and a break below this support will confirm a new test of support at 1.5439 on the way towards strong support at 1.5407. Only an unexpected break above 1.5724 will confuse the picture and call for a continuation higher towards strong resistance at 1.5849.

    Trading recommendation:

    We sold EUR at 1.5620 and has placed our stop at 1.5725. If you are not short EUR yet, then sell near 1.5679 with the same stop at 1.5725.

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

    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