empty
 
 
27.09.2012 11:40 AM
EUR/NZD - Elliott Wave Analysis for September 27 - 2012

This image is no longer relevant
 

 

Today's Support and Resistance Levels:

S1: 1.5569                    R1: 1.5627

S2: 1.5544                    R2: 1.5697

S3: 1.5434                    R3: 1.5752

 

 

Technical Overview:

 


As it was said yesterday we are not out of the woods yet. The failure to push higher is a matter of concern. However, waves 2 retraced the whole wave 1 without violation of R.N. Elliott's rules. But if there is a single tick below 1.5569, the possible bullish count will be invalidated. It may call for a deeper correction towards 1.5544, and probably even towards 1.5434. However, as long as support at 1.5569 protects the downside move, we will look for a break above 1.5697. But more importantly is 1.5752 that will be confirmed soon. That means a new rally towards 1.5902 and higher is under way.

 

Trading Recommendation:

You should be long EUR from 1.5620 with a stop at 1.5565. If you are not long EUR already, then wait for a break above 1.5697 before buying with the same stop.

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