empty
 
 
05.02.2014 11:15 AM
Elliott Wave Analysis of EUR/NZD for February 5, 2014

This image is no longer relevant

Today's Support and Resistance levels:

R3: 1.6613

R2: 1.6547

R1: 1.6501

Current Spot: 1.6466

S1: 1.6426

S2: 1.6408

S3: 1.6395

Technical summary:

With the break below support at 1.6469 (the top of wave i), we have been forced to adopt the alternate triangle count as our preferred count. It shows a major X-wave triangle, which ultimately will call for a break out of the triangle towards the upside. In the short term, we think that the wave E would end at 1.6352 and would look for a break above 1.6500 as the first indication, while a break above resistance at 1.6603 would confirm the bottom for a new rally towards 1.6787 and more importantly a break above resistance at 1.6996.

As long as minor resistance at 1.6500 protects the upside, it opens the possibility for a slightly deeper correction towards 1.6408 and maybe even 1.6395 before higher again.

Trading recommendation:

Our stop at 1.6554 was hit for a nice little profit. We will buy EUR here at 1.6466 with a stop at 1.6210, but we expect to be able to raise the stop soon.

Summary
Urgency
Analytic
Torben Melsted
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback