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Thread: Technical analysis of EUR/NZD By Instaforex

  1. #51
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    Technical summary:
    If a new impulsive rally begins, the potential downside progress should be very limited from here. In the short term, a break above 1.4320 will be the first indication that red wave ii could be over, but a break above resistance at 1.4461 will be needed to confirm that red wave iii is developing and the bottom should be set at 1.4128.

    Trading recommendation:
    We will buy EUR upon a break above 1.4320 (say at 1.4330).
    Technical analysis of EUR/NZD By Instaforex-1428550784_2015-04-09-eurnzd-4h-png

  2. #52
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    Technical summary:
    We saw a sharp rally towards 1.4237 yesterday, which is just below the 50% corrective target for red wave iii and therefore it is more than likely that red wave iv ended at 1.4237.Red wave v is likely to move lower towards 1.3867 and possibly even lower to 1.3687 before a firm bottom is found. In the short term, I would be looking for a break below minor support at 1.4130 as a confirmation that red wave v is unfolding a decline to 1.4011 on the way lower to 1.3867. Ideally, minor resistance at 1.4170 will protect the upside for the break below 1.4130 for a strong move lower.

    Trading recommendation:

    The decline in wave v is well advanced, but we will buy and sell EUR at 141.65 with a stop at 142.10 and take profit at 1.3875, this will be a nice risk/reward trade.
    Technical analysis of EUR/NZD By Instaforex-2015-04-14-eurnzd-4h-png

  3. #53
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    Technical summary:
    Red wave iv is likely to be terminated at 1.4237 as we pointed out yesterday. However, the following minor correction was a bit more complex than we had expected. No matter what, we are currently looking for red wave v lower towards at least 1.3905 and even lower to 1.3700, if red wave v extends too. In the short term, we will ideally see resistance at 1.4154 protecting the upside for the next strong decline towards 1.4009 and even lower to 1.3967 before the next possible consolidation.

    Trading recommendation:
    Our stop at 142.00 was hit, but we will re-sell EUR at 1.4145 with a stop at 1.4210 and take profit at 1.3920
    Technical analysis of EUR/NZD By Instaforex-2015-04-15-eurnzd-4h-png

  4. #54
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    Technical summary:
    With a low at 126.02, we missed the ideal long-term target by just 4 small pips. Even though, we think the rally following the low looks impulsive but we would still like to see minor support at 126.96 protecting the downside for a rally to just above 127.83 to indicate the bottom being in place. Once the first minor five wave rally from the 126.02 low is in place, we need to look for a deep correction in minor wave ii, which should be used to buy EUR with a stop just below 126.02 for a strong rally in wave iii higher.

    Trading recommendation:
    If you are not long EUR already, then buy EUR here or wait for a correction into the 126.75 - 126.96 area and place stop at 125.95
    Technical analysis of EUR/NZD By Instaforex-2015-04-15-eurjpy-4h-png

  5. #55
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    Technical summary:
    We are very close to make new lows for the year. A decline from 1.4206 is not very pretty and can be described as a series of waves one and two. In this case, we should expect a powerful decline soon, as a series of wave three needs to unfold. Only a break above 1.4148 will invalidate this outlook and indicate that the decline from 1.4206 was corrective and we should see a new rally to at least 1.4206 and even to 1.4237.

    Trading recommendation:
    We sold EUR at 1.4145 and moved our stop lower to 1.4155. If you are not short EUR yet, sell near 1.4105 with the same stop at 1.4155 and place take profit at 1.3920 in both cases.
    Technical analysis of EUR/NZD By Instaforex-2015-04-16-eurnzd-4h-png

  6. #56
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    Technical Summary:
    We have seen a new low at 1.3979 and wave five decline can be counted from 1.4547. So, we are getting closer to the bottom. However, as long as minor resistance at 1.4105 is protecting the upside, we will be looking for a move lower towards 1.3867 and maybe even lower to 1.3687 before the final low is in place. A break above 1.4105 is likely to be the first indication that a bottom could be in place.

    Trading recommendation:
    We are short EUR from 1.4145 and will move our stop+reverse of the EUR position lower to 1.4115. If our stop+reverse is hit at 1.4115 our new stop will be placed 5 pips below the bottom.
    Technical analysis of EUR/NZD By Instaforex-2015-04-17-eurnzd-4h-png

  7. #57
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    Technical summary:
    We have seen a nice decline to our first downside target at 1.3867. However, as long as resistance at 1.4051 is able to protect the upside, we will be looking for a move closer to our second downside target at 1.3687 before a firm bottom is expected to be in place. A direct break above 1.4051 is needed to indicate that the bottom is already in place for a rally back to important resistance at 1.4237.

    Trading recommendation:
    We are short EUR from 1.4145 and will move our stop+reverse lower to 1.4055 and we will place take profit+reverse at 1.3700
    Technical analysis of EUR/NZD By Instaforex-2015-04-22-eurnzd-4h-png

  8. #58
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    Technical summary:
    The very complex wave B of the expanded flat correction, which has been unfolding from a high of 1.7274, finally seems to come to the end. A break above 1.4237 is needed to confirm that the bottom is in place. If we zoom in on the shorter time frame, we can see the rally from 1.3867 is strong and looks impulsive calling for more upside in the near term. The first hurdle to clear is resistance at 1.4237. Above here, will call for a continuation towards the top of wave v at 1.4547.

    Trading recommendation:
    Our stop and reverse at 1.4055 was hit for a nice profit. We are long EUR from 1.4055 now and we will place our stop at 139.65. If you are not long EUR already, then buy EUR near 1.4055 with the same stop at 1.3965
    Technical analysis of EUR/NZD By Instaforex-2015-04-23-eurnzd-4h-png

  9. #59
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    Technical summary:
    We have seen a very strong rally from 1.3880, which indicates that the firm low for wave B is in place. We also have taken out resistance at 1.4237 adding confidence to call for a low being in place. In the short term, we are looking for the break resistance-line to act as support. However, even if this former resistance-line gets broken towards downside, support should be expected near 1.4150 for one more high above 1.4547. More impulsive rally will ultimately take us to a high of 1.7274 high.

    Trading recommendation:
    We are long EUR from 1.4055 and move our stop to break even. If you are not long EUR yet, then buy near 1.4150 if possible with the same stop at 140.55
    Technical analysis of EUR/NZD By Instaforex-2015-04-24-eurnzd-4h-png

  10. #60
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    Technical summary:
    The rally from a low of 1.3880 continued to unfold as a textbook impulsive rally. We have seen the expected correction lower towards 1.4208, which is expected to protect the downside for the next impulsive rally higher to just above 1.4547 in red wave v, this should terminate the first larger impulsive wave i and call for a deeper correction of the entire rally from 1.3880. In the short term, we are going to be looking for a break above minor resistance at 1.4277 and more importantly a break above resistance at 1.4321 as indication that red wave v higher to 1.4547 is developing.

    Trading recommendation:
    We are long EUR from 1.4055 and will keep our stop at 1.4100 for now. Buy EUR near 1.4208 with the same stop at 1.4100, but upon a break above 1.4321 move the stop higher to 10 pips below the most recent bottom.
    Technical analysis of EUR/NZD By Instaforex-2015-04-28-eurnzd-4h-png

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100, analysis, average, elliott wave, eur, fibonacci, gold, high, high volume, instaforex, level, low, nzd, profit, real, resistance, safe, short term, simple, stop, support, technical analysis, test, time, trading, trend

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