Elliott wave analysis of EUR/NZD for September 15 – 2016
September 15, 2016 5:11 am
Wave summary:
We continue to look for an ending diagonal to unfold here. Short term, we will ideally seen resistance near 1.5511 for a break below minor support at 1.5217 for a decline to 1.4989 and lower to 1.4700 to complete the long term corrective decline from 1.9023.
Only an unexpected break above 1.5649 will question this scenario and call for a new test of 1.5839 and likely above.
Trading recommendation:
We will keep our sell order at 1.5600 with stop + revers of the position at 1.5660.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to look for an ending diagonal to unfold here. Short term, we will ideally seen resistance near 1.5511 for a break below minor support at 1.5217 for a decline to 1.4989 and lower to 1.4700 to complete the long term corrective decline from 1.9023.
Only an unexpected break above 1.5649 will question this scenario and call for a new test of 1.5839 and likely above.
Trading recommendation:
We will keep our sell order at 1.5600 with stop + revers of the position at 1.5660.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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