Elliott wave analysis of EUR/NZD for January 13 – 2015
January 13, 2015 7:50 am
Technical summary:
The correction in blue wave iv we where looking for, is unfolding nicely. We expect support at 1.5195 to be able to protect the downside for a continuation higher to 1.5297 and possibly even slightly higher to the 1.5330 – 1.5351 area before blue wave iv is over and a new decline to 1.4912 in blue wave v and red wave iii.
Trading recommendation:
We will sell EUR at 1.5320 with a stop at 1.5420.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
The correction in blue wave iv we where looking for, is unfolding nicely. We expect support at 1.5195 to be able to protect the downside for a continuation higher to 1.5297 and possibly even slightly higher to the 1.5330 – 1.5351 area before blue wave iv is over and a new decline to 1.4912 in blue wave v and red wave iii.
Trading recommendation:
We will sell EUR at 1.5320 with a stop at 1.5420.
The material has been provided by InstaForex Company – www.instaforex.com
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