Today's support and resistance levels:
R3: 1.6291
R2: 1.6203
R1: 1.6150
Current spot: 1.6128
S1: 1.6070
S2: 1.6058
S3: 1.6031
Technical summary:
With the break above the base-channel resistance-line we should see acceleration higher towards 1.6203 on the way higher to 1.6407. Short term we will be looking for support at 1.6031, which idealy will protect the downside for the next rally above 1.6150 for a test of resistance at 1.6203 on the way higher.
Trading recommendation:
We are long in EUR from 1.5826 and will move our stop higher to 1.5810. If you are not long in EUR yet, then buy EUR near 1.6031 with the same stop at 1.5810.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/NZD for September 26 - 2014 . Thanks for your support.
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