empty
 
 
12.08.2014 10:24 AM
Elliott wave analysis of EUR/NZD for August 12, 2014

This image is no longer relevant

Today's support and resistance levels:

R3: 1.5965

R2: 1.5920

R1: 1.5890

Current spot: 1.5889

S1: 1.5876

S2: 1.5866

S3: 1.5857

Technical summary:

Now, we have a nice five wave rally of the 1.5398 low. The triangle we described yesterday has unfolded perfectly and should provide a rally to 1.5920 and maybe 1.5964. Once this final wave v is in place, we will see a correction towards 1.5598 in wave 2. The fact that we have a five wave rally of the 1.5398 low tells us, that we should expect a new impulsive rally once the correction in wave 2 is over. For now, look for 1.5920, with an outside chance of 1.5964 before wave v and 1 is in place.

Trading recommendation:

We are long in EUR from 1.5710 and will move our stop higher to 1.5830 and place take profit+reverse at 1.5910. If we have done at 1.5910, we will place our new stop at 1.6010.

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