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12.01.2015 06:44 AM
Elliott wave analysis of EUR/NZD for January 12 - 2015
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Technical summary:

Blue wave iii ended at 1.5037. Now, we will be looking for a correction in blue wave iv towards at least 1.5231 and likely even slightly higher towards 1.53551 before blue wave v lowers to 1.4911. In the short term, we should be looking for support near 1.5063 as a break above minor resistance at 1.5136 will confirm the rally to 1.5231 and maybe even higher to 1.5351.

Trading recommendation:

We will be looking for a EUR selling opportunity near 1.5351.

Summary
Urgency
Analytic
Torben Melsted
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