Elliott wave analysis of EUR/NZD for October 16, 2014 Todays - TopicsExpress



          

Elliott wave analysis of EUR/NZD for October 16, 2014 Todays support and resistance levels: R3: 1.6219 R2: 1.6166 R1: 1.6140 Current spot: 1.6100 S1: 1.6085 S2: 1.6055 S3: 1.6000 Technical summary: Nothing new here, the range that we have trade within over the last 2 weeks still persists. We are still looking for a break above minor resistance at 1.6187 and more importantly above resistance at 1.6219 to confirm the next rally higher towards 1.6446 and above 1.6836. Short-term support at 1.6055 and 1.6020 is likely to keep protecting the downside for the expected rally. Trading recommendation: Our stop at 1.6025 was hit and we are now neutral. We will only buy upon a break above 1.6187. The material has been provided by InstaForex Company - instaforex
Posted on: Thu, 16 Oct 2014 14:25:03 +0000

Trending Topics



Recently Viewed Topics




© 2015