empty
 
 
15.01.2015 08:57 AM
Elliott wave analysis of EUR/NZD for January 15 - 2015
This image is no longer relevant

Technical summary:

The correction in blue wave iv entered the resistance area between 1.5330 - 1.5350 before turning lower again. We will now be looking for a break below support at 1.5175 to confirm that blue wave iv ended at 1.5331 and blue wave v lower to 1.4970 is developing. In the short term, we should ideally see minor resistance at 1.5228 protect the upside for a break below support at 1.5175 confirming the next decline towards 1.4970. Only an unexpected break above resistance at 1.5287 will delay the expected decline in blue wave v.

Trading recommendation:

We sold EUR at 1.5320 and will move stop lower to 1.5340. If you are not short EUR yet, then sell a break below 1.5175 with a stop at 1.5290.

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