Elliott wave analysis of EUR/NZD for October 28, 2015
October 28, 2015 8:00 am
Wave summary:
With a breakout above 1.6390 we can see the first indication that a bottom was found at 1.6124 and a new impulsive rally is about to develop. The next resistance to look for is found at 1.6546 and a breakout above here will be a strong indication of a bottom being in place and for a continuation higher to 1.6950 or just above this resistance. To mark the top of wave i.
Trading recommendation:
We bought EUR at 1.6390 and have placed our stop at 1.6180. If you are not long EUR yet, buy EUR near 1.6390 and use the same stop at 1.6180.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
With a breakout above 1.6390 we can see the first indication that a bottom was found at 1.6124 and a new impulsive rally is about to develop. The next resistance to look for is found at 1.6546 and a breakout above here will be a strong indication of a bottom being in place and for a continuation higher to 1.6950 or just above this resistance. To mark the top of wave i.
Trading recommendation:
We bought EUR at 1.6390 and have placed our stop at 1.6180. If you are not long EUR yet, buy EUR near 1.6390 and use the same stop at 1.6180.
The material has been provided by InstaForex Company – www.instaforex.com
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