empty
 
 
20.01.2015 06:52 AM
Elliott wave analysis of EUR/NZD for January 20 - 2015
This image is no longer relevant

Technical summary:

Blue wave v only made it to 147.89 before bottoming out and ending red wave iii and setting the stage for a correction towards at least 1.5122 and likely even higher to 1.5329 before turning lower in red wave v. In the short term, we expect support at 1.4885 will be able to protect the downside for the rally towards 1.5122 and possibly higher towards 1.5329. Only a direct break below 1.4885 will call for a new test of 147.89.

Trading recommendation:

We took profit and reversed our EUR-short position at 1.4855 for a very nice profit. We will place our stop at 1.4880 on our long EUR position from 1.4855.

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