Elliott wave analysis of EUR/NZD for May 9, 2013
May 9, 2013 8:45 amVideo
Latest News
- Video market update for May 09, 2024 May 9, 2024
- Analysis of EUR/USD pair on May 9th. Euro woke up after the Bank of England meeting May 9, 2024
- Analysis of GBP/USD pair on May 9th. Andrew Bailey did all he could May 9, 2024
- USD/JPY: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- GBP/USD: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- EUR/USD: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- Technical Analysis – GBPUSD retreats further after BoE’s decision May 9, 2024
- Technical Analysis – UK 100 index swings to all-time high May 9, 2024
- GBP/USD: trading plan for the US session on May 9th (analysis of morning deals). The pound continues to be held within the May 9, 2024
- EUR/USD: trading plan for the US session on May 9th (analysis of morning deals). The euro rebounded from 1.0726 May 9, 2024
- EUR/USD. May 9th. Bulls have exhausted their strength May 9, 2024
- GBP/USD. May 9th. Bulls fear Bailey’s “soft” rhetoric May 9, 2024
- Midweek Technical Look – EURUSD, Gold, US 500 May 9, 2024
- Technical Analysis – EURCHF flirts with uptrend line May 9, 2024
- Technical Analysis – EURGBP runs out of steam near 0.8600 May 9, 2024
- Forex forecast 05/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin from Sebastian Seliga May 9, 2024
- USD/JPY: trading tips for beginners for European session on May 9 May 9, 2024
- Technical Analysis – USDJPY advances after bouncing off 50-day SMA May 9, 2024
- Market Comment – Pound slides ahead of Bank of England decision May 9, 2024
- Technical Analysis – NZDUSD bulls face strong resistance May 9, 2024
Today’s support and resistance levels:
R3: 1.5717
R2: 1.5658
R1: 1.5593
Current spot: 1.5546
S1: 1.5518
S2: 1.5463
S3: 1.5426
Technical overview:
We are a bit surprised to see the rather big correction from the 1.5717 high, but that said, we are still bullish due to the break out of the falling channel and the fact that the rallies do have an impulsive character. In the short term we are looking for support near 1.5518 and a break above 1.5593, which will confirm the next rally higher towards 1.5717 and beyond. However, until we see the break above 1.5593, we should accept the possibility of a slightly deeper correction. Ideally, either 1.5518 will hold, or else we will see a continuation down to 1.5463 before the next move higher.
Trading recommendation:
Our stop at 1.5550 has been hit for a nice profit. We will buy EUR again here at 1.5550 with a stop at 1.5440.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: