empty
 
 
14.04.2014 10:15 AM
Elliott wave analysis of EUR/NZD for April 14, 2014

This image is no longer relevant

Today's Support and Resistance levels:

R3: 1.6064

R2: 1.6032

R1: 1.6010

Current spot: 1.5980

S1: 1.5971

S2: 1.5945

S3: 1.5914

Technical summary:

The triangle consolidation is still unfolding. At this point, it is a bit unclear whether red wave c already has ended or more upside towards 1.6140 is needed. No matter which count proves correct, more sideways consolidation inside the triangle will be seen, before the final decline should be expected. This correction since September 2013 has been a nightmare and we are just looking forward to it being over soon.

Trading recommendation:

Stay neutral for now. Sell EUR at 1.6130 with a stop and reverse at 1.6185.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $9000 more!
    In May we raffle $9000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback