empty
 
 
29.04.2015 05:58 AM
Elliott wave analysis of EUR/NZD for April 29 - 2015

This image is no longer relevant

Technical summary:

The correction in red wave iv moved slightly below the ideal corrective target at 1.4208. Otherwise, the rally of a low of 1.3880 continues to mirror a textbook rally. In the short term, we expect support at 1.4179 to protect the downside for a break above minor resistance at 1.4273 confirming that red wave v higher towards 1.4490 and ideally a little higher to just above resistance at 1.4547. This will mark the first larger impulsive rally of 1.3880 and call for a correction in the entire rally from 1.3880.

Trading recommendation:

We are long EUR from 1.4055 and we will move our stop higher to 1.4165 and place take profit at 1.4475. If you are not long EUR yet, the buy EUR near 1.4230 with the same stop at 1.4165 and take profit at 1.4475.

Summary
Urgency
Analytic
Torben Melsted
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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