For Traders

Analytical Reviews

Wave analysis

21.04.201507:21 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for April 21 - 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.

Technical summary:

we will be looking for a decline closer to 1.3867 and maybe even lower to 1.3687 as long as minor resistance at 1.4082 keeps protecting the upside. But a decline from 1.5821 is observed in five waves now and is well advanced, so a bottom could be found anytime soon.

In the short term, we will focus on the downside as long as minor resistance at 1.4082 keeps protecting the upside. Any break above 1.4082 will shift our attention towards the upside for a strong rally towards 1.4569 as the first upside target.

Trading recommendation:

We are short EUR from 1.4145 and will move our stop+reverse lower to 1.4090.

Back to the list

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.