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16.09.201505:37 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for September 16, 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 16.09.2015 analysis

Technical summary:

We continue to look for a strong rally higher to 1.8289, but the correction in wave ii has taken longer than first expected. To confirm that the correction in wave ii is over, we need a break above resistance at 1.7955, which will call for the next impulsive rally in wave iii towards 1.8289 and more likely higher to 1.8702 as wave iii was expected to extend.

Trading recommendation:

We are long EUR from 1.7490 with stop placed at 1.7620. If you are not long yet, buy on a break above 1.7955 with stop placed at 1.7620.

Torben Melsted
Analytical expert of InstaForex
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