Elliott Wave analysis of EUR/NZD for June 25, 2013
June 25, 2013 8:15 amVideo
Latest News
- Trading plan for GBP/USD on May 6. Simple tips for beginners May 6, 2024
- Trading plan for EUR/USD on May 6. Simple tips for beginners May 6, 2024
- Technical Analysis of Intraday Price Movement of CAD/JPY Cross Currency Pairs , Monday May 06 2024.ei 2024. May 6, 2024
- Technical Analysis of Intraday Price Movement of USD/IDR Exotic Currency Pairs , Monday May 06, 2024. May 6, 2024
- Forecast for EUR/USD on May 6, 2024 May 6, 2024
- Forecast for GBP/USD on May 6, 2024 May 6, 2024
- Forecast for AUD/USD on May 6, 2024 May 6, 2024
- Trading Signals for EUR/USD for May 3-5, 2024: sell below 1.0803 (overbought – 5/8 Murray) May 3, 2024
- Trading Signals for GOLD for May 3-5, 2024: sell below $2,320 or below $2,300 (21 SMA – 200 EMA) May 3, 2024
- Technical Analysis – GBPUSD advances above descending trendline May 3, 2024
- USD experiences day X May 3, 2024
- Bitcoin licks wounds as Fed comes on the rescue – Crypto News May 3, 2024
- GBP/USD: trading plan for the US session on May 3rd (analysis of morning deals). The pound is preparing to get out of the May 3, 2024
- EUR and GBP may drop May 3, 2024
- EUR/USD: trading plan for the US session on May 3rd (analysis of morning deals). US data will be the key moment of the week May 3, 2024
- USD/JPY: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- GBP/USD: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- Video market update for May 03, 2024 May 3, 2024
- EUR/USD: Simple trading tips for novice traders on May 3rd (US session) May 3, 2024
- Could the BoE adopt a more dovish stance on Thursday? – Preview May 3, 2024
Today’s Support and Resistance levels:
R3: 1.7160 (1st target for black wave v)
R2: 1.7113
R1: 1.7033
Current Spot: 1.6977
S1: 1.6950
S2: 1.6897
S3: 1.6825 (top of red wave i)
Technical overview:
As important support at 128.25 (top of red wave i) protected the downside we are now looking for a break above resistance at 1.7033 to confirm, that the next rally towards the first possible target for black wave v at 1.7160. That said we expect that black wave v will continue towards its next possible target at 1.7400, where it will be 50% of the distance traveled from the bottom of black wave i (1.5080) to the top of black wave iii (1.7109) and recently it could reach 1.7640, where it will be 61.8% of that same distance. However, we shall remember that in the sense of the Elliott Wave Principle we can already count five waves from the 1.5080 low and therefore we should be aware of the risk of a possible top at any time now.
Trading recommendation:
We are long EUR from 1.6450 and will move our stop higher to 1.6860. New long EUR-positions should only be taken with close stops and quick exits.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: