empty
 
 
28.07.2014 10:26 AM
Elliott wave analysis of EUR/NZD for July 28, 2014

This image is no longer relevant

Today's support and resistance levels:

R3: 1.5812

R2: 1.5780

R1: 1.5751

Curren spot: 1.5735

S1: 1.5712

S2: 1.5694

S3: 1.5663

Technical summary:

We are still looking for acceleration higher towards at least 1.5812 after the break above the base channel. However, we could easily see a continuation higher towards 261.8% extension of wave i at 1.6041. In the short term, we are looking for minor support at 1.5694 to protect the downside for a break above 1.5751 confirming the next part of the rally to 1.5812.

Trading recommendations:

We are long in EUR from 1.5525 and will move stop higher to 1.5650. If you are not long in EUR yet, then buy near 1.5694 with the same stop at 1.5650.

Summary
Urgency
Analytic
Torben Melsted
Start trade
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 $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

Recommended Stories

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