For Traders

Analytical Reviews

Wave analysis

22.06.201505:43 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for June 22, 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 are still looking for more upside pressure towards 1.6787 and expect minor resistance at 1.6513 to be broken soon for the next rally towards 1.6787. That said we are looking for even more upside pressure towards 1.7154 and the next major upside target in the longer term.

Now, support is found at 1.6374 and at 1.6313 again. The later should not be broken.

Trading recommendation:

We are long EUR from 1.5810 with stop at 161.85. Stop would be moved higher to 1.6300 once minor resistance at 1.6513 gets broken. If you are not long EUR yet, the buy EUR near 1.6425 or upon a break above 1.6513 and use the same stops.

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.