empty
 
 
01.10.2013 08:41 AM
Elliott Wave Analysis of EUR/NZD for October 1, 2013

This image is no longer relevant

Today's Support and Resistance levels:

R3: 1.6514

R2: 1.6418

R1: 1.6353

Current Spot: 1.6288

S1: 1.6256

S2: 1.6220

S3: 1.6200

Technical summary:

As long as minor resistance at 1.6353 protects the upside we could see a deeper decline towards 1.6200, before wave ii is over. However, once we break above 1.6353 and more importantly above 1.6418 we should see a powerful acceleration higher towards at least 1.6800 and likely even higher towards the former top at 1.7274. The rally from the fifth low at 1.6089 has all the characteristics of an impulsive rally and therefore it should just be a matter of time before the next powerful rally higher begins.

Trading recommendation:

Stay long from 1.6315 with a stop at 1.6175. If you are not long in EUR, then buy at 1.6220 or upon a break above 1.6353 with the same stop at 1.6175.

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