Elliott wave analysis of EUR/NZD for July 1 – 2016
July 1, 2016 7:03 am
Wave summary:
Wave (ii) is taking longer than we expected. In the short term, we are looking for a break above minor resistance at 1.5600 confirming another rally closer to 1.5816 to complete a flat correction as wave (ii). From 1.5816, the next impulsive decline lower to 1.4490 is expected.
Trading recommendation:
We will sell EUR at 1.5805 with stop placed at 1.5875.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
Wave (ii) is taking longer than we expected. In the short term, we are looking for a break above minor resistance at 1.5600 confirming another rally closer to 1.5816 to complete a flat correction as wave (ii). From 1.5816, the next impulsive decline lower to 1.4490 is expected.
Trading recommendation:
We will sell EUR at 1.5805 with stop placed at 1.5875.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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