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Thread: Technical analysis of EUR/NZD By Instaforex

  1. #21
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    Default Elliott wave analysis of EUR/NZD for December 23 - 2014

    Technical summary:
    We are still looking for an obvious sign, that the corrective decline from 1.6207 is over and a new rally towards at least 1.6163 is unfolding. However, a break above 1.6163 should open up for a further move much higher. In the short term, a break above minor resistance at 1.5881 will be the first good indication, that the correction ended at 1.5724 and the expected rally is developing.

    Trading recommendation:
    We missed our buying opportunity near 1.5703, but will buy EUR upon a break above 1.5881 with stop placed at 1.5700.
    Technical analysis of EUR/NZD By Instaforex-2014-12-23-eurnzd-8h-png

  2. #22
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    Default Elliott wave analysis of EUR/NZD for December 24, 2014 By Instaforex

    Technical Summary:
    We are still looking for a break above the resistance at 1.5881 as a confirmation that a bottom is in the place at 1.5724 for a rally towards at least 1.6163. As long as the resistance at 1.5881 protects the upside, there is still a risk of decline below the support at 1.5643 and if it happens, a new decline to 1.5398 and, most likely, below it should be expected. For now, we just have to watch, which way it will break, but we do favor the upside.

    Trading Recommendation:
    We will buy EUR upon a break above 1.5881 with stop placed at 1.5720.
    Technical analysis of EUR/NZD By Instaforex-2014-12-24-eurnzd-8h-png

  3. #23
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    Default Elliott wave analysis of EUR/NZD for December 30, 2014 By Instaforex

    Technical summary:
    There was no time for a proper correction back to 1.5724; and we are already close to the Spetember low at 1.5526 which will likely act as a support for a minor correction towards 1.5629 before the next decline towards 1.54 and 1.4966 in a huge flat correction.

    Trading recommendation:
    We will sell EUR at 1.5615 with stop placed at 1.5675
    Technical analysis of EUR/NZD By Instaforex-2014-12-30-eurnzd-8h-png

  4. #24
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    Default Elliott wave analysis of EUR/NZD for January 2 - 2015 By Instaforex

    Technical summary:
    The September low at 1.5526 has been broken too and after small correction towards 1.5630 the next downside target will come in at 1.5407. However, the longer-term decline is expected to continue all the way back to the July 2012 low at 1.4966 in major flat correction. Correction from the 1.7153 high has been a very complex triple combination and we are currently in the final z-wave of this triple combinatio with more downside to cover.

    Trading recommendation: We have missed our selling target at 1.5615, but will try to sell at 1.5620 with a stop at 1.5725.
    Technical analysis of EUR/NZD By Instaforex-2015-01-02-eurnzd-8h-png

  5. #25
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    Default Elliott wave analysis of EUR/NZD for January 8, 2015 By Instaforex

    Technical summary:
    The decline have been even strong than we expected. This strong decline has forced us to evaluate the previous count and the new short-term count shows that blue wave iii is close to a bottom at 1.5153 form where we should expect a correction towards 1.5341 and maybe even slightly higher towards 1.5450 before blue wave v lower towards 1.5079 to end blue wave v and red wave iii. Once red wave iii is in place, we should be looking for flat correction in red wave iv. As red wave ii was strong correction that took back most of red wave i, the alternation principle tells to look for a shallow and flat red wave iv.

    Trading recommendation:
    We will book our profit from 1.5620 here at 1.5183 for a nice profit. We will then look for a new EUR selling opportunity near 1.5450.
    Technical analysis of EUR/NZD By Instaforex-2015-01-08-eurnzd-8h-png

  6. #26
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    Default Elliott wave analysis of EUR/NZD for January 9, 2015 By Instaforex

    Technical summary:
    Blue wave iii has extended deeper towards the 200% extension target of blue wave i. We expect blue wave iv to start any time now for correction to at least 1.5341 and maybe even slightly higher to 1.5454 before blue wave v lower takes over for the decline to 1.4966, which marks the July 2012 bottom.

    Trading recommendation:
    We will be looking for a EUR selling opportunity near 1.5450, once blue wave iv starts to unfold.
    Technical analysis of EUR/NZD By Instaforex-2015-01-09-eurnzd-8h-png

  7. #27
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    Default Elliott wave analysis of EUR/NZD for January 12 - 2015 By Instaforex

    Technical summary:
    Blue wave iii ended at 1.5037. Now, we will be looking for a correction in blue wave iv towards at least 1.5231 and likely even slightly higher towards 1.53551 before blue wave v lowers to 1.4911. In the short term, we should be looking for support near 1.5063 as a break above minor resistance at 1.5136 will confirm the rally to 1.5231 and maybe even higher to 1.5351.

    Trading recommendation:
    We will be looking for a EUR selling opportunity near 1.5351
    Technical analysis of EUR/NZD By Instaforex-2015-01-12-eurnzd-8h-png

  8. #28
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    Default Elliott wave analysis of EUR/NZD for January 13 - 2015 By Instaforex

    Technical summary:
    The correction in blue wave iv we where looking for, is unfolding nicely. We expect support at 1.5195 to be able to protect the downside for a continuation higher to 1.5297 and possibly even slightly higher to the 1.5330 - 1.5351 area before blue wave iv is over and a new decline to 1.4912 in blue wave v and red wave iii.

    Trading recommendation:
    We will sell EUR at 1.5320 with a stop at 1.5420
    Technical analysis of EUR/NZD By Instaforex-2015-01-13-eurnzd-8h-png

  9. #29
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    Default Elliott wave analysis of EUR/NZD for January 14 - 2015 By Instaforex

    Technical summary:
    The correction in blue wave iv continues to unfold as expected. We continue to look for a move closer to the 38.2% corrective target at 1.5351 before blue wave v lower towards 1.4912 is expected to take over. Short-term support is found at 1.5263, which ideally will protect the downside for the move higher to 1.5351 to end blue wave iv and set the stage for blue wave v lower.

    Trading recommendation:
    We are looking to sell EUR at 1.5320 with a stop at 1.5420.
    Technical analysis of EUR/NZD By Instaforex-2015-01-14-eurnzd-8h-png

  10. #30
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    Default Elliott wave analysis of EUR/NZD for January 15 - 2015 By Instaforex

    Technical summary:
    The correction in blue wave iv entered the resistance area between 1.5330 - 1.5350 before turning lower again. We will now be looking for a break below support at 1.5175 to confirm that blue wave iv ended at 1.5331 and blue wave v lower to 1.4970 is developing. In the short term, we should ideally see minor resistance at 1.5228 protect the upside for a break below support at 1.5175 confirming the next decline towards 1.4970. Only an unexpected break above resistance at 1.5287 will delay the expected decline in blue wave v.

    Trading recommendation:
    We sold EUR at 1.5320 and will move stop lower to 1.5340. If you are not short EUR yet, then sell a break below 1.5175 with a stop at 1.5290
    Technical analysis of EUR/NZD By Instaforex-2015-01-15-eurnzd-8h-png

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