empty
 
 
31.07.2013 10:47 AM
Elliott Wave analysis of EUR/NZD for July 31, 2013

This image is no longer relevant

Today's Support and Resistance levels:

R3: 1.6762

R2: 1.6686

R1: 1.6649

Current Spot: 1.6612

S1: 1.6577

S2: 1.6543

S3: 1.6514

Technical summary:

With an almost perfect test of strong resistance at 1.6686 (the high has been 1.6674) we think that a correction of this red wave i towards 1.6577 and likely deeper towards 1.6543 would be appropriate. However, we can make a case, where we will not see a correction of that magnitude and if this is the case we will see a direct break above 1.6649 and, more importantly, a break above 1.6686 calling for a continuation higher towards 1.6762 and 1.6818 on the way towards 1.7326, which we believe will be the target for black wave iii.

Trading recommendation:

We are long EUR from 1.6411 with a stop at 1.6390. If you are not long EUR yet, then buy near 1.6543 or upon a break above 1.6649 with the same stop at 1.6390.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Torben Melsted
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback