Elliott wave analysis of EUR/NZD for December 22 – 2014
December 22, 2014 7:20 am
Technical summary:
Ideally, support near 1.5703 will protect the downside for a break above resistance at 1.5845 and more importantly a break above 1.5879 confirming a new rally towards 1.6100 in a possble b-wave triangle. Only a break below support at 1.5643 will invalidate the outlook for a b-wave triangle and call for renewed downside pressure towards 1.5398 and lower.
Trading recommendation:
We will buy EUR near 1.5703 with a stop at 1.5640.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
Ideally, support near 1.5703 will protect the downside for a break above resistance at 1.5845 and more importantly a break above 1.5879 confirming a new rally towards 1.6100 in a possble b-wave triangle. Only a break below support at 1.5643 will invalidate the outlook for a b-wave triangle and call for renewed downside pressure towards 1.5398 and lower.
Trading recommendation:
We will buy EUR near 1.5703 with a stop at 1.5640.
The material has been provided by InstaForex Company – www.instaforex.com
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