Elliott wave analysis of EUR/NZD for March 13 – 2015
March 13, 2015 9:50 am
Technical summary:
The correction in wave iv will likely be complex and take up more time. We are looking for a move closer to 1.4445 and maybe even slightly higher towards 1.4560 before the next downside pressure towards 1.4135 that is expected. In the short term, only a break below minor support at 1.4337 indicates more downside pressure.
Trading recommendation:
As we expect a more complex correction to unfold, it is better to stay neutral for now.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
The correction in wave iv will likely be complex and take up more time. We are looking for a move closer to 1.4445 and maybe even slightly higher towards 1.4560 before the next downside pressure towards 1.4135 that is expected. In the short term, only a break below minor support at 1.4337 indicates more downside pressure.
Trading recommendation:
As we expect a more complex correction to unfold, it is better to stay neutral for now.
The material has been provided by InstaForex Company – www.instaforex.com
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