empty
 
 
20.08.2012 10:14 AM
EUR/NZD - Elliott Wave Analysis for August 20 - 2012

This image is no longer relevant
 

EUR/NZD Daily

This image is no longer relevant

EUR/NZD 4 Hourly

 

Today's Support and Resistance Levels: 

S1: 1.5210                    R1: 1.5301

S2: 1.5187                    R2: 1.5335

S3: 1.5170                    R3: 1.5386

 

 

Technical Overview:
Looking at the larger picture we expect that an important bottom is in place with1.4968 low and that a new long term uptrend is developing. The first good indicator that an important bottom is indeed in place, will come from a break above resistance in the 1.5543 - 1.5504 area. A break above 1.5504 will confirm much higher levels in the longer term.
Zooming in on the rally from the 1.4968 low is the best count at this point which proves that we have seen a series of waves one's and two's. In short term we are looking for a minor setback to near 1.5170 before the next more powerful rally in blue wave iii sets in for a rally towards 1.5500 and maybe even higher.

Trading Recommendation:
If you are not long EUR against NZD already, buy EUR at 1.5180 with a 1.5090 stop and consider taking profit near 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