empty
 
 
26.06.2015 05:50 AM
Elliott wave analysis of EUR/NZD for June 26, 2015

This image is no longer relevant

Technical summary:

With a low at 1.6147 we got close to indicate a more substantial correction evolved, but as long as support at 1.6143 stays intact, we will be looking for more upside pressure towards 1.6787. In the short term, we will be looking for a break above minor resistance at 1.6345 as the first good indication that the correction in red wave iv is over at 1.6147 and that red wave v is developing for the rally to 1.6787.

A break below 1.6143 is still needed to indicate a more substantial correction towards 1.5928 and even 1.5650 is unfolding.

Trading recommendation:

We are long EUR from 1.6300 and will keep our stop at 1.6140. If you are not long EUR yet, buy on a break above 1.6345 with the same stop at 1.6140.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback