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Thread: Technical analysis of EUR/NZD By Instaforex

  1. #41
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    Technical summary:
    The decline in red wave v of (v) extended below the long term support line at 1.4700. We expect this to be a classic case of overshooting. We are still looking for a firm bottom and will be looking for a break above minor resistance at 1.4667 and a break above 1.4800 to confirm that a bottom is in place. Short term, minor support at 1.4611 will ideally protect the downside from the expected break above 1.4667. Only a break below support at 1.4586 will indicate that the bottom is not in place yet.

    Trading recommendation:
    We are long EUR from 1.4725 and will place our stop at 1.4580. If you are not long EUR yet, then buy a break above 1.4667 with the same stop at 1.4580.
    Technical analysis of EUR/NZD By Instaforex-2015-03-05-eurnzd-4h-png

  2. #42
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    The rally of 1.4554 low does look impulsive. It is the first indication that a long-term bottom is in place. The expected rally higher should last for many weeks and months. It should ultimately bring the prices above 1.7274 but let's take this in baby-steps and look for a break above minor resistance at 1.4919 as the next good indication that a firm bottom is in place. In the short run, we expect support at 1.4630 to protect the downside for a break above 1.4779 and more importantly above 1.4817 confirming the test of resistance at 1.4919.

    Trading recommendations:
    We are long EUR from 1.4725 and will keep our stop at 1.4550 for now. If you are not long EUR yet, the buy near 1.4630 with the same stop at 1.4550.
    Technical analysis of EUR/NZD By Instaforex-2015-03-06-eurnzd-4h-png

  3. #43
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    The rally to the level 1.4554 looks impulsive, but we still need a break above the resistance line at 1.4919 to confirm that a firm bottom is in place and a new impulsive rally in wave C is developing. Short term, we expect minor support at 1.4758 will protect the downside for the rally above the important resistance at 1.4919 confirming the bottom. A break below 1.4758 is going to change the situation, but only a break below 1.4710 is of concern as is likely to delay the expected rally.

    Trading recommendation:
    We are long EUR from 147.25 and will move our stop higher to 1.4560. If you are not long EUR yet, then buy near 1.4758 with the same stop at 1.4560.
    Technical analysis of EUR/NZD By Instaforex-2015-03-10-eurnzd-4h-png

  4. #44
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    Technical summary:
    The correction of red wave ii became more complex than expected, but we are looking for a break above minor resistance at 1.4762 to confirm that red wave iii is developing higher towards 1.5254. As long as minor resistance at 1.4770 protects the upside, an even more complex correction of red wave ii can not be ruled out, but the bottom at 1.4525 should be safe.

    Trading recommendation:
    We are long EUR from 1.4725 and will keep our stop 1.4560. If you are not long EUR yet, buy upon a break above 1.4762 with a stop at 1.4655.
    Technical analysis of EUR/NZD By Instaforex-2015-03-11-eurnzd-4h-png

  5. #45
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    Technical summary:
    We have seen an unexpected break below support at 1.4554, which has changed the wave configuration to a much more bearish structure. This more bearish count calls for a continuation lower to 1.4236 as the next downside target to end just wave iii. If support at 1.4236 is broken, wave iii will extend even further down to 1.3851, but we will be looking for support near 1.4236 for now. Short-term resistance is found at 1.4473.

    Trading recommendation:
    Our stop at 1.4560 has been hit. We will sell the EUR at 1.4450 with stop at 1.4500.
    Technical analysis of EUR/NZD By Instaforex-2015-03-12-eurnzd-4h-png

  6. #46
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    Technical summary:
    The correction in wave iv will likely be complex and take up more time. We are looking for a move closer to 1.4445 and maybe even slightly higher towards 1.4560 before the next downside pressure towards 1.4135 that is expected. In the short term, only a break below minor support at 1.4337 indicates more downside pressure.

    Trading recommendation:
    As we expect a more complex correction to unfold, it is better to stay neutral for now.
    Technical analysis of EUR/NZD By Instaforex-2015-03-13-eurnzd-4h-png

  7. #47
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    Technical summary:
    The correction in wave iv became more volatile than expected. We expect resistance at 1.4631 to protect the upside for a break below support at 1.4366, confirming the final leg lower towards 1.4048 and even lower to 1.3864. A break above 1.4631 turns the picture around and indicates that a firm bottom was found at 1.4240 and a rally back to 1.5820 should be expected.

    Trading recommendation:
    We are short EUR from 1.4545. We will move our stop lower to 1.4510 to protect our self in this volatile environment
    Technical analysis of EUR/NZD By Instaforex-2015-03-19-eurnzd-4h-png

  8. #48
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    Technical summary:
    We have seen a move lower, and the break below minor support at 1.4367 does argue for more downside pressure towards at least 1.4048 and more likely lower towards 1.3846. However, the decline from 1.4437 is not yet overly convincing, but we are going to let bears have the benefit of the doubt for now. Short-term resistance at 1.4437 needs to protect the upside for a continuation lower. A break above 1.4437 will call for more upside towards 1.4557.

    Trading recommendation:
    We are short EUR from 1.4545 and will move our stop lower to 1.4445. If you are not short EUR yet, then sell near 1.4437 with the same stop.
    Technical analysis of EUR/NZD By Instaforex-2015-03-20-eurnzd-4h-png

  9. #49
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    Technical summary:
    The expected rally has worked just the way we anticipated. As red wave ii was flat, we are looking for extension in red wave iii and that calls for minimum 1.4583 and possibly even more upside towards 1.4649 before a correction in red wave iv. After a minor correction in red wave iv, a final rally higher to 1.4798 is expected to end the first impulsive rally from the bottom at 1.4128. The fact that we have already broken above the channel resistance-line is also encouraging.

    Trading recommendation:
    We are long EUR from 143.15 and we will move our stop higher to 1.4375. We will place take profit at 1.4775. If you are not long EUR yet, then buy near 1.4440 with the same stop at 1.4375
    Technical analysis of EUR/NZD By Instaforex-2015-03-26-eurnzd-4h-png

  10. #50
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    Technical summary:
    The expected upward rally is still on track. We are gathering strength to accelerate higher towards 1.4595 and much higher in the long term. In the short term, we expect minor support at 1.4389 to be able to protect the downside for a break above resistance at 1.4495 calling for acceleration to 1.4595 and above. A break below 1.4389 is likely to delay the expected upside pressure, but the potential downside should be limited to support at 1.4362.

    Trading recommendation:
    We are long EUR from 1.4335 and are going to keep our stop at 1.4275 for now. If you are not long EUR yet, buy closer to 1.4389 or upon a break above 1.4457 with the same stop at 1.4275.
    Technical analysis of EUR/NZD By Instaforex-1427774176_2015-03-31-eurnzd-4h-png

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