16.06.201608:32 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for June 16 - 2016

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.

Wave summary:

A break below the long-term support line confirmed a thrust out of the B-wave triangle calling for a decline closer to 1.4471 as the ideal medium target.

In the short term, we are looking for a decline to 1.5604 to end wave i of C and after a correction to 1.6100 in wave ii more downside pressure is expected in wave iii of C towards 1.4698.

Trading recommendation:

We are short in EUR from 1.6010 and will move our stop lower to 1.6025. If you are not short in EUR yet, then sell near 1.6010 and use the same stop at 1.6025.

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.