Elliott wave analysis of EUR/NZD for September 14 – 2016
September 14, 2016 5:20 am
Wave summary:
As long as resistance at 1.5649 is able to cap the upside, we will be looking for one final decline closer to 1.4700 to complete the long term decline from 1.9023. From here or upon an unexpected break above 1.5649 we will look for first 1.5834 and the beyond for a continuation towards 1.6085 on the way higher to 1.6931.
Short term a break below minor support at 1.5217 will call for the final decline towards 1.4700.
Trading recommendation:
Our stop at 1.5430 was hit. We will place a new EUR sell order at 1.5600 with stop + revers at 1.5660.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
As long as resistance at 1.5649 is able to cap the upside, we will be looking for one final decline closer to 1.4700 to complete the long term decline from 1.9023. From here or upon an unexpected break above 1.5649 we will look for first 1.5834 and the beyond for a continuation towards 1.6085 on the way higher to 1.6931.
Short term a break below minor support at 1.5217 will call for the final decline towards 1.4700.
Trading recommendation:
Our stop at 1.5430 was hit. We will place a new EUR sell order at 1.5600 with stop + revers at 1.5660.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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