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Thread: Technical analysis of EUR/NZD By Instaforex

  1. #11
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    Default Elliott wave analysis of EUR/NZD for November 26 - 2014 By Instaforex

    Technical summary:
    The correction we where looking for towards 1.5805 is currently unfolding. Short term, we expect minor resistance at 1.5972 will protect the upside for a break below minor support at 1.5917 and more importantly below support at 1.5878 confirming the decline to 1.5805, before this correction is over.

    Trading recommendation: We are looking for a EUR-buy possibility near 1.5805.
    Technical analysis of EUR/NZD By Instaforex-2014-11-26-eurnzd-8h-png

  2. #12
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    Default Elliott wave analysis of EUR/NZD for December 5 - 2014 By Instaforex

    Technical summary:
    We are still locked in the range between 1.5788 to the downside and 1.6000 to the upside. Only a break out of this range will get things going again. We still favor a break towards the upside, for a rally towards 1.6274 on the way higher to 1.6446 and 1.6800. That said, the risk of cause is a break below 1.5788, that will delay the expected rally for a move closer to 1.5722 before the next rally should be expected.

    Trading recommendation:
    ​We are long in EUR from 1.5830 with stop placed at 1.5775. If you are not long in EUR yet, then buy near 1.5788 or upon a break above 1.5991 with the same stop.
    Technical analysis of EUR/NZD By Instaforex-2014-12-05-eurnzd-8h-png

  3. #13
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    Default Elliott wave analysis of EUR/NZD for December 8 - 2014 By Instaforex

    Technical summary:
    We have finally seen a break above 1.6000, which confirms that wave c higher is developing. Wave c is expected to be a very powerful impulsive rally higher to 1.6273 and 1.6446 on the way towards 1.6800 and possibly even higher to 1.7124. We have recognized this as being a rare expanded diagonal, where each of the waves are larger than the prior wave, meaning that wave iii is an 161.8% extension of wave i. Therefore, we expect the ongoing wave v to be an 161.8% extension of wave iii call for a strong rally higher to 1.7124. In the short term, we still need minor resistance at 1.6140 and more importantly resistance at 1.6273 to be broken to feel comfortable about the rally higher to 1.6446 and above. Ideally, we will now see support at 1.5980 protect the downside, but only a break below 1.5908 will delay the expected upside.

    Trading recommendation:
    We are long in EUR from 1.5830 and will move our stop higher to 1.5900. If you are not long in EUR yet, then buy near 1.5980 with the same stop at 1.5900.
    Technical analysis of EUR/NZD By Instaforex-2014-12-08-eurnzd-8h-png

  4. #14
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    Default Elliott wave analysis of EUR/NZD for December 10 - 2014 By Instaforex

    Technical summary:
    The resistance line from 1.6446 has blocked the rally higher, but it should just be a matter of time, before this resistance line is broken for a further move higher towards 1.6273. In the short term, we will be looking for support near 1.6028 for the next attempt to break above the resistance line near 1.6120. Once this resistance line is cleared, the next target at 1.6273 should be reached pretty quickly. In the longer term, we will be looking for a rally towards 1.7124.
    Technical analysis of EUR/NZD By Instaforex-2014-12-10-eurnzd-8h-png

  5. #15
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    Default Elliott wave analysis of EUR/NZD for December 11 - 2014 By Instaforex

    Technical summary:
    Support at 1.6028 held perfect for the next attack on the resistance line. As expected, it broke for a rally higher towards 1.6273, but suddenly near 1.6200 prices ran into a brick wall and took an awful dive. Should we be afraid? When prices collapse like this, we should always be careful, but we regard this decline as wave ii and will be looking for wave iii higher to at least 1.6526, where wave iii will be 161.8% of wave i. In the short term, only a break below 1.5789 will invalidate the bullish outlook.

    Trading recommendation:
    Our stop at 1.6010 was hit for a nice profit. We will buy EUR again at 1.5915 or upon a break above 1.5984 with a stop at 1.5775.
    Technical analysis of EUR/NZD By Instaforex-2014-12-11-eurnzd-8h-png

  6. #16
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    Default Elliott wave analysis of EUR/NZD for December 12 - 2014 By Instaforex

    Technical summary:
    We are still looking for support at 1.5789 to protect the downside for a break above minor resistance at 1.5981 confirming that wave ii is over and wave iii higher to 1.6526, where wave iii will be 161.8% of wave i. Even though it's hard to believe, then the trend is still up here. It feels like we have traded in the same area forever now. However, once the resistance line and resistance at 1.6200 gives away, the way higher should be cleared for acceleration higher.
    Technical analysis of EUR/NZD By Instaforex-2014-12-12-eurnzd-8h-png

  7. #17
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    Default Elliott wave analysis of EUR/NZD for December 16 - 2014 By Instaforex

    Technical summary:
    We are back at the resistance line near 1.6105. We would like to see a close above this resistance line to confirm a move higher to 1.6206 and higher to 1.6446. In the short term, we would like to see minor support at 1.6031 protecting the downside, but only a break below support at 1.5985 will delay the expected upside for a move closer to 1.5950 before higher again.

    Trading recommendation:
    We are long in EUR from 1.5915 and will move our stop higher to 1.5980. If you are not long in EUR yet, then buy near 1.6031 with the same stop at 1.5980.
    Technical analysis of EUR/NZD By Instaforex-2014-12-16-eurnzd-8h-png

  8. #18
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    Default Elliott wave analysis of EUR/NZD for December 17 - 2014

    Technical summary:
    It finally looks as, we will get the close above the resistance line opening up the upside for a strong rally towards 1.6273 and 1.6446 on the way higher to 1.7125. In the short run, we would like to see the former resistance line near 1.6100 acting as support for the next rally higher to 1.6273 and above.

    Trading recommendation:
    We are long in EUR from 1.5915 with stop placed at 1.5980. If you are not long in EUR yet, the buy near 1.6100 with the same stop at 1.5980.
    Technical analysis of EUR/NZD By Instaforex-2014-12-17-eurnzd-8h-png

  9. #19
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    Default Elliott wave analysis of EUR/NZD for December 18 - 2014 By Instaforex

    Technical Summary:
    The break back below the resistance-line is confusing. It tells us, that the correction in blue wave ii has become more complex, than initially expected. The correction in blue wave ii has turned into an expanded flat correction. It also tells us, that blue wave iii will be a strong and extended wave as soon as it takes off in real. Apparently, we saw the bottom of wave c at 1.5910 and a break above 1.6058 will be the first strong indication that blue wave ii is over and blue wave iii higher is developing. A break above 1.6120 is needed to confirm that blue wave iii towards at least 1.6490 and likely even 1.6668 is developing.

    Trading recommendation:
    Our stop at 1.5980 was taken out for a nice little profit. We will buy here at 1.6006 with our stop placed at 1.5835
    Technical analysis of EUR/NZD By Instaforex-2014-12-18-eurnzd-8h-png

  10. #20
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    Default Elliott wave analysis of EUR/NZD for December 19 - 2014

    Technical summary:
    This sideways correction/consolidation jas just become even more complex than it already where. The failure to hold the break above the resistance line was really disappointing, but the leading expanding diagonal could still be developing as long as support at 1.5705 and more importantly as long as support at 1.5643 protects the downside. If however support at 1.5643 is broken too, then a new decline towards 148.13 should be expected.

    Trading recommendation:
    Our stop at 158.40 was hit for a loss and we will stay neutral for now
    Technical analysis of EUR/NZD By Instaforex-2014-12-19-eurnzd-8h-png

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