Technical summary:
Wave v does not look anything near complete and we expect resistance at 1.4468 will protect the upside for a break below minor support at 1.4289 and more importantly below support at 1.4257 confirming the next decline towards 1.3878 which marks the first downside target for wave v. At 1.3878 wave v will be equal in length to wave i and it will also be 38.2% of the distance traveled from the top of wave i to the bottom of wave iii subtracted from the top of wave iv.
Trading recommendation:
We will sell EUR here at 1.4316 with stop placed at 1.4470 and place take profit at 1.3900.
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 March 17 - 2015 . Thanks for your support.
No comments:
Post a Comment