empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

25.08.201509:11 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for August 25 - 2015

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 25.08.2015 analysis

Technical summary:

The financial panic seen yesterday in the wake of the collapsing stock markets spilled over into the currency market. For this cross it meant a super spike to 1.9023. Instead of this rally being the top of wave (v), it's more likely that we are in wave (iii) higher towards 1.9567 before a correction in wave (iv) should be expected.

In the short term, we expect support at 1.7553 to be able to protect the downside for a break above minor resistance at 1.8005 that will call for the final rally higher to 1.9567. Only a break below 1.7553 will delay the expected rally higher for a move closer to 1.7277.

Trading recommendation:

We missed our buy-target at 1.7223, but will buy upon a break above minor resistance at 1.8005 and place take profit at 1.9550 if done.

Torben Melsted
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off