empty
 
 
03.03.2015 03:07 PM
Elliott wave analysis of EUR/NZD for March 3 - 2015
This image is no longer relevant

Technical summary

We are still looking for the final decline closer to the long-term support near 1.4700, from which we expect a multi-month rally to take place. From the high of 1.5821, a five wave decline can be allowed for, which means we are close to a bottom and are looking at the longer-term picture. The long-term support from March 1997 is coming in close to 1.4700, which should provoke a long-term rally for many months.

Trading recommendation:

We will buy EUR at 1.4725 or higher than a break above resistance at 1.4925 (an order done cancels the others).

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