Elliott Wave analysis of EUR/NZD for August 6, 2013
August 6, 2013 9:45 amVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
Today’s Support and Resistance levels:
R3: 1.7047
R2: 1.6972
R1: 1.6942
Current Spot: 1.6929
S1: 1.6857
S2: 1.6813
S3: 1.6771
Technical summary:
The correction from the 1.7153 high has been deeper than expected, but as long as support at 1.6771 (the high of blue wave i) stays intact we will be looking for the next powerful rally higher soon. In fact we think that support at 1.6813 will protect the downside for a break above 1.6972 and, more importantly, a break above 1.7023 which confirms that a new impulsive rally above 1.7153 is developing. We are still looking at 1.7326 as the first target for this rally. That said we will have to be alert to a break below the top of blue wave i at 1.6771. If that happens, this rally cannot be impulsive and we should expect a new decline to 1.6225 in a flat correction.
Trading recommendation:
Our stop at 1.6895 was taken out for a nice profit. We are looking for a new EUR buying opportunity and will buy EUR at 1.6860 or upon a break above 1.6972 (one order done cancels the other). Stop will be placed at 1.6765.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: