Elliott wave analysis of EUR/NZD for June 25, 2014
June 25, 2014 11:10 am
Today’s Support and Resistance levels:
R3: 1.5786
R2: 1.5746
R1: 1.5723
Current spot: 1.5643
S1: 1.5580
S2: 1.5539
S3: 1.5538
Technical summary:
Blue wave iv has almost tested the target zone between 1.5723 – 1.5746 and we will now look for a break below minor support at 1.5580 as the first good indication that blue wave v has taken over for a decline to 1.5446. Once this blue wave v is in place we should be looking for a long-term bottom.
Trading recommendation:
We will stay neutral and await the major bottom being in place.
The material has been provided by InstaForex Company – www.instaforex.com
Today’s Support and Resistance levels:
R3: 1.5786
R2: 1.5746
R1: 1.5723
Current spot: 1.5643
S1: 1.5580
S2: 1.5539
S3: 1.5538
Technical summary:
Blue wave iv has almost tested the target zone between 1.5723 – 1.5746 and we will now look for a break below minor support at 1.5580 as the first good indication that blue wave v has taken over for a decline to 1.5446. Once this blue wave v is in place we should be looking for a long-term bottom.
Trading recommendation:
We will stay neutral and await the major bottom being in place.
The material has been provided by InstaForex Company – www.instaforex.com
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