Elliott wave analysis of EUR/NZD for June 29 – 2016
June 29, 2016 5:31 am
Wave summary:
We continue to look for a little more correction closer to 1.5895 and maybe even closer to 1.6005 before the next impulsive decline takes over for a drop to 1.4490.
Only a direct break below minor support at 1.5484 will indicate that the correction in wave 2 has completed prematurely and wave 3 lower is already unfolding.
Trading recommendation:
We have placed a sell order at 1.5890 with stop at 1.6035.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to look for a little more correction closer to 1.5895 and maybe even closer to 1.6005 before the next impulsive decline takes over for a drop to 1.4490.
Only a direct break below minor support at 1.5484 will indicate that the correction in wave 2 has completed prematurely and wave 3 lower is already unfolding.
Trading recommendation:
We have placed a sell order at 1.5890 with stop at 1.6035.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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