empty
 
 
10.10.2013 09:07 AM
Elliott Wave Analysis of EUR/NZD for October 10, 2013

This image is no longer relevant

Today's Support and Resistance levels:

R3: 1.6464

R2: 1.6425

R1: 1.6398

Current Spot: 1.6347

S1: 1.6304

S2: 1.6258

S3: 1.6219

Technical summary:

The messy and hard-to-read consolidation is continuing. We did see a break below support at 1.6267 yesterday, which should have caused a stronger downside pressure than we did see. We now have two opposite formations building at the same time and this has become a tuck of war between the bulls and the bears. A break below support at 1.6219 will trigger a S/H/S top formation for a continuation lower towards 1.6071 and 1.5872. However, a break above resistance at 1.6405 will likely trigger a new test of the possible inverted S/H/S neckline near 1.6495 and a break above here should be bullish in the long term.

Trading recommendation:

Our selling point at 1.6255 was triggered yesterday. Keep you stop and reverse to a long EUR-position at 1.6410 for now.

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