Elliott wave analysis of EUR/NZD for April 4, 2014
April 4, 2014 8:10 amVideo
Latest News
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
Today’s Support and Resistance levels:
R3: 1.6086
R2: 1.6068
R1: 1.6046
Current spot: 1.6024
S1: 1.6011
S2: 1.5987
S3: 1.5936
Technical summary:
The decline from the 1.6180 high does have impulsive structure, which indicates that red wave v lower is developing. However, a break below support at 1.5972 is needed to confirm that red wave v is well under way towards its ideal target near 1.5530. In the short term, we are looking for minor resistance at 1.6046 to protect the upside for a move lower towards at least 1.5987 and more likely even lower towards 1.5936 before a more serious correction should be expected.
Trading recommendation:
Stay short in EUR from 1.6175 and move your stop lower to 1.6075. If you are not short in EUR yet, then sell near 1.6046 with the same stop at 1.6075.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: