Elliott wave analysis of EUR/NZD for March 30 – 2015
March 30, 2015 6:30 am
Technical summary
We are still looking for a close above the resistance line on the 4-hourly chart to confirm that a series of wave three is developing for a rally towards at least 1.4595. In the short term, a break above minor resistance at 1.4397 is going to be the first indication that resistance at 1.4495 is likely to be challenged again and a break above here should bring an acceleration higher than we are looking for. Only an unexpected break below support at 1.4287 will confuse the overall bullish picture.
Trading recommendation:
We are long EUR from 1.4335 and will place our stop at 1.4275
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary
We are still looking for a close above the resistance line on the 4-hourly chart to confirm that a series of wave three is developing for a rally towards at least 1.4595. In the short term, a break above minor resistance at 1.4397 is going to be the first indication that resistance at 1.4495 is likely to be challenged again and a break above here should bring an acceleration higher than we are looking for. Only an unexpected break below support at 1.4287 will confuse the overall bullish picture.
Trading recommendation:
We are long EUR from 1.4335 and will place our stop at 1.4275
The material has been provided by InstaForex Company – www.instaforex.com
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