Elliott wave analysis of EUR/NZD for October 25, 2016
October 25, 2016 7:07 am
Wave summary:
A test of a short-term important resistance at 1.5292 was seen in early Asian session, but a break above this resistance is needed to confirm that wave (ii) completed with the test of 1.5066 and that wave (iii) higher towards 1.6396 has taken over.
A break above 1.5292 will call for a rally to 1.5525 and 1.5764 on the way higher to 1.6396.
Trading recommendation:
We are long EUR from 1.5285 with stop placed at 1.4985. If you are not long yet, then buy upon a break above 1.5292 and use the same stop at 1.4985.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
A test of a short-term important resistance at 1.5292 was seen in early Asian session, but a break above this resistance is needed to confirm that wave (ii) completed with the test of 1.5066 and that wave (iii) higher towards 1.6396 has taken over.
A break above 1.5292 will call for a rally to 1.5525 and 1.5764 on the way higher to 1.6396.
Trading recommendation:
We are long EUR from 1.5285 with stop placed at 1.4985. If you are not long yet, then buy upon a break above 1.5292 and use the same stop at 1.4985.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: