Elliott wave analysis of EUR/NZD for August 19, 2013
August 19, 2013 6:15 amVideo
Latest News
- GBP/USD. May 10th. The British economy was pleasantly surprised May 10, 2024
- USD/JPY: Simple trading tips for novice traders on May 10th (US session) May 10, 2024
- GBP/USD: Simple trading tips for novice traders on May 10th (US session) May 10, 2024
- EUR/USD: Simple trading tips for novice traders for May 10th (US session) May 10, 2024
- GBP/USD: trading plan for the US session on May 10th (analysis of morning deals). The pound hit 1.2535 May 10, 2024
- EUR/USD: trading plan for the US session on May 10th (analysis of morning deals). The euro shows no signs of life May 10, 2024
- Trading Signals for BITCOIN (BTC/USD) for May 10-15, 2024: buy above $62,500 (21 SMA – 4/8 Murray) May 10, 2024
- Video market update for May 10, 2024 May 10, 2024
- Technical Analysis – GBPJPY continues to ascend May 10, 2024
- Technical Analysis – EURUSD retests 200-day SMA near downtrend line May 10, 2024
- Bitcoin finds support from a weaker dollar – Crypto News May 10, 2024
- Weekly Forex Outlook: 10/05/2024 – US inflation numbers to shake Fed rate cut bets May 10, 2024
- Forex forecast 05/10/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 10, 2024
- Week Ahead – US inflation numbers to shake Fed rate cut bets May 10, 2024
- GBP/USD: trading tips for beginners for European session on May 10 May 10, 2024
- EUR/USD: trading tips for beginners for European session on May 10 May 10, 2024
- Market Comment – Dollar slides, gold shines after soft US labor market data May 10, 2024
- Technical Analysis – AUDUSD remains undecided near crucial technical region May 10, 2024
- Technical Analysis – USDCAD slips beneath 20-day SMA May 10, 2024
- USD/JPY: trading tips for beginners for European session on May 10 May 10, 2024
Today’s Support and Resistance levels:
R3: 1.6472
R2: 1.6455
R1: 1.6432
Current Spot: 1.6404
S1: 1.6392
S2: 1.6329
S3: 1.6277
Technical summary:
Since the last update the price-action has been pretty much as expected. We are still looking for a decline closer to support at 1.6225 and maybe just below, but once this C-wave is over we are looking for a new impulsive rally higher.
Short term we expect minor resistance at 1.6472 will protect the upside for a break below 1.6392 for a continuation towards support at 1.6329 and at 1.6277 before the ideal target near 1.6225. Only a break above strong resistance at 1.6572 will indicate that a bottom is already in place and call for the next impulsive rally higher towards 1.7153 and above.
Trading recommendation:
Stay short from 1.6760 and lower stop to 1.6575 and place a take profit at 1.6250. If you are not short already then sell upon a break below 1.6392 with a stop at 1.6475 and use the same take profit level at 1.6250.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: