Elliott wave analysis of EUR/NZD for February 18 – 2015
February 18, 2015 1:50 pm
Technical summary:
We are still looking for one last decline closer to 1.5000 to end the correction from 1.5821, but we are also aware that all we are looking for is a correction before renewed upside pressure is expected. Only an unexpected break below support at 1.4888 will invalidate our bullish scenario. In the short term we are looking for a minor correction to 1.5210 before the final decline towards 1.5000 to end wave (ii).
Trading recommendation:
We are looking for a euro-buying opportunity near 1.5000.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
We are still looking for one last decline closer to 1.5000 to end the correction from 1.5821, but we are also aware that all we are looking for is a correction before renewed upside pressure is expected. Only an unexpected break below support at 1.4888 will invalidate our bullish scenario. In the short term we are looking for a minor correction to 1.5210 before the final decline towards 1.5000 to end wave (ii).
Trading recommendation:
We are looking for a euro-buying opportunity near 1.5000.
The material has been provided by InstaForex Company – www.instaforex.com
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