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Thread: Elliott wave analysis of EUR/NZD By Instaforex

  1. #1
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    Default Elliott wave analysis of EUR/NZD By Instaforex

    Technical summary:
    We still think the best count is that wave (ii) ends at 1.5198. However, to put this preferable scenario into practise, we need support at 1.5212 staying untouched for a break above minor resistance at 1.5359 and more importantly a break above resistance at 1.5393 for the next rally higher towards 1.6668. Only a break below 1.5212 will delay the expected upside pressure, but the downside potential should prove to be very limited.

    Trading recommendations:
    We will buy EUR at 1.5290 or upon a break above 1.5393 with a stop placed at 1.5190.
    Elliott wave analysis of EUR/NZD By Instaforex-2015-02-13-eurnzd-4h-png

  2. #2
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    Aug 2014
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    Default

    Technical summary:
    We are still looking for one last decline closer to 1.5000 to end the correction from 1.5821, but we are also aware that all we are looking for is a correction before renewed upside pressure is expected. Only an unexpected break below support at 1.4888 will invalidate our bullish scenario. In the short term we are looking for a minor correction to 1.5210 before the final decline towards 1.5000 to end wave (ii).

    Trading recommendation:
    We are looking for a euro-buying opportunity near 1.5000.
    Elliott wave analysis of EUR/NZD By Instaforex-2015-02-18-eurnzd-4h-png

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analysis, elliott wave, eur, instaforex, nzd, resistance, stop, support, trading, upside

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