Elliott wave analysis of EUR/NZD for October 2 – 2015
October 2, 2015 8:20 am
Technical summary:
A breake below the support at 1.7466 calls for more corrective declines closer to 1.6781. In the short term, we expect that the resistance at 1.7523 will be able to protect the upside for the next decline towards 1.7146 on the way lower to 1.6781.
Trading Recommendation:
We are short EUR from 1.7480 with a stop placed at 1.7580. If you are not short EUR yet, then sell a break below 1.7410 with a stop at 1.7525.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
A breake below the support at 1.7466 calls for more corrective declines closer to 1.6781. In the short term, we expect that the resistance at 1.7523 will be able to protect the upside for the next decline towards 1.7146 on the way lower to 1.6781.
Trading Recommendation:
We are short EUR from 1.7480 with a stop placed at 1.7580. If you are not short EUR yet, then sell a break below 1.7410 with a stop at 1.7525.
The material has been provided by InstaForex Company – www.instaforex.com
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