empty
 
 
13.02.2017 08:33 AM
Elliott wave analysis of EUR/NZD for February 13, 2017

This image is no longer relevant

Wave summary:

We are still looking for more upside here towards 1.4918 to complete wave [i] and set the stage for a minor correction back to 1.4695 from where a new strong rally is expected towards 1.5836 and possibly even higher. In the short term a break above minor resistance at 1.4791 will confirm the rally higher to 1.4918.

Ideally, support at 1.4695 will be able to protect the downside for the expected rally higher to 1.4918; but only a break below support at 1.4651 will question this rally.

R3: 1.4918

R2: 1.4860

R1: 1.4791

Pivot: 1.4735

S1: 1.4695

S2: 1.4675

S1: 1.4651

Trading recommendation:

We bought EUR at 1.4740 and has placed our stop at 1.4490.

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 $9000 more!
    In May we raffle $9000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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