Elliott wave analysis of EUR/NZD for September 29 – 2016
September 29, 2016 6:16 am
Wave summary:
We continue to look for a break above resistance at 1.5553 to confirm that wave [iii] of iii higher towards 1.5969 and above is developing. Ideally we will see support at 1.5299 continue to act as a floor for the rally above 1.5553, but only a break below important support at 1.5124 will invalidate our bullish outlook.
Trading recommendation:
We are long EUR from 1.5515 with stop placed at 1.5120. If you are not long EUR yet, then buy a break above 1.5553 with stop placed at 1.5290.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to look for a break above resistance at 1.5553 to confirm that wave [iii] of iii higher towards 1.5969 and above is developing. Ideally we will see support at 1.5299 continue to act as a floor for the rally above 1.5553, but only a break below important support at 1.5124 will invalidate our bullish outlook.
Trading recommendation:
We are long EUR from 1.5515 with stop placed at 1.5120. If you are not long EUR yet, then buy a break above 1.5553 with stop placed at 1.5290.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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