empty
 
 
17.08.2012 11:18 AM
EUR/NZD - Elliott Wave Analysis for August 17 - 2012

This image is no longer relevant
 

 

Today's Support and Resistance Levels:

S1: 1.5210                    R1: 1.5334

S2: 1.5187                    R2: 1.5373

S3: 1.5164                    R3: 1.5444

 

 

Technical Overview:
We only saw a slight break below support at 1.5197 yesterday to 1.5187, but it was enough to take out our stop and leave us with a small loss of only 20 pips. However we, unfortunately, we did not get a chance to re-but EUR at 1.5170. The count that best fit the price action we have seen since the 1.4968 low is that we have seen a series of wave one's and two's, but we should soon see a more dynamic and powerful rise towards 1.5494 in green wave iii. As we are in the very early part of a possible major new rally, we must expect the price action to look choppy, but none the less, we do new small higher highs and higher lows all the time.

Trading Recommendation:
Buy EUR against NZD here at 1.5277 with a 1.5185 stop. Consider talking profit at 1.5485.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2026
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 $10000 more!
    In January we raffle $10000 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