empty
 
 
30.10.2013 08:46 AM
Elliott wave analysis of EUR/NZD for October 30, 2013

This image is no longer relevant

Today's Support and Resistance levels:

R3: 1.6800

R2: 1.6773

R1: 1.6723

Current Spot: 1.6646

S1: 1.6611

S2: 1.6572

S3: 1.6498

Technical summary:

The rally from the 1.6057 low continues higher, and we have seen 1.6723 tested, however, we are clearly observing a loss of momentum, which does indicate that a top could be in place or be nearby. To confirm the top, we need a break below 1.6611 and more importantly a break below 1.6572 that would call for a correction towards at least 1.6469 and possibly even lower towards 1.6311. That said, we have to respect the ongoing uptrend as long as support at 1.6611 protects the downside, for a possible extension higher towards 1.6773.

Trading recommendation:

The stop at 1.6695 was hit for a loss. we are still looking for wave ii to unfold and recommends selling EUR upon a break below 1.6611 with a stop above 1.6723 and take profit 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