Elliott wave analysis of EUR/NZD for April 15, 2014
April 15, 2014 10:15 am
Today’s Support and Resistance levels:
R3: 1.6064
R2: 1.6032
R1: 1.6010
Current spot: 1.5945
S1: 1.5945
S2: 1.5914
S3: 1.5865
Technical summary:
The triangle consolidation is still unfolding. It is still not clear whether wave c is in place with the test of 1.6105 or we need one more rally towards 1.6134 before it is finally in place. No matter which count proves correct we still have some time to spend within the triangle before the final decline lower towards 1.5543.
Trading recommendation:
Sell EUR at 1.6130 with a stop and reverse at 1.6185.
The material has been provided by InstaForex Company – www.instaforex.com
Today’s Support and Resistance levels:
R3: 1.6064
R2: 1.6032
R1: 1.6010
Current spot: 1.5945
S1: 1.5945
S2: 1.5914
S3: 1.5865
Technical summary:
The triangle consolidation is still unfolding. It is still not clear whether wave c is in place with the test of 1.6105 or we need one more rally towards 1.6134 before it is finally in place. No matter which count proves correct we still have some time to spend within the triangle before the final decline lower towards 1.5543.
Trading recommendation:
Sell EUR at 1.6130 with a stop and reverse at 1.6185.
The material has been provided by InstaForex Company – www.instaforex.com
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