Elliott wave analysis of EUR/NZD for May 28 – 2015
May 28, 2015 7:20 amVideo
Latest News
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
- What’s next for markets amid Israel-Iran tensions? – Special Report April 16, 2024
- Technical Analysis – GBPUSD pulls back into the negative zone April 16, 2024
- Geopolitical developments and stronger US data push volatility to new highs across the board – Volatility Watch April 16, 2024
- Technical Analysis – AUDUSD breaks the lower bound of a sideways range April 16, 2024
- Video market update for April 16, 2024 April 16, 2024
- Hot forecast for EUR/USD on April 16, 2024 April 16, 2024
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
Technical summary:
We still favor more downside movment towards 1.4725 in wave c of the expanded flat correction that has been unfolding since wave (i) topped at 1.5467. That said, it will only take a break above 1.5109 and more importantly a break above resistance at 1.5208 to indicate that wave (ii) ended at 1.4927 and wave (iii) higher towards at least 1.6300 is developing. As long as resistance at 1.5109 is able to protect the upside, we will look for a final decline in wave c closer to 1.4725 to terminate the expanded flat. It will only take a break above 1.5109 to indicate that wave (ii) has terminated and wave (iii) higher is developing.
Trading recommendation:
Our stop and revers at 1.5080 was hit. Now, we are long on EUR. As we still can see more downside pressure, we will place our stop at 1.5020. If our stop gets hit, we will re-buy EUR at 1.4750.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: