Elliott wave analysis of EUR/NZD for July 13 – 2016
July 13, 2016 3:12 pm
Wave summary:
There is no change in view here.
We remain focused on the downside for a break below the minor support at 1.5072 calling for more downside pressure towards 1.4920 as the next downside target.
In the long term, we could see a deeper decline towards 1.4490 as this corrective decline from 1.9023 is in progress.
Trade recommendation:
We are short on the EUR from 1.5500 with stop placed at 1.5365. If you are not short on the EUR yet, then sell a break below the minor support at 1.5072 and place you stop at 1.5277
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
There is no change in view here.
We remain focused on the downside for a break below the minor support at 1.5072 calling for more downside pressure towards 1.4920 as the next downside target.
In the long term, we could see a deeper decline towards 1.4490 as this corrective decline from 1.9023 is in progress.
Trade recommendation:
We are short on the EUR from 1.5500 with stop placed at 1.5365. If you are not short on the EUR yet, then sell a break below the minor support at 1.5072 and place you stop at 1.5277
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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