Technical summary:
If a new impulsive rally begins, the potential downside progress should be very limited from here. In the short term, a break above 1.4320 will be the first indication that red wave ii could be over, but a break above resistance at 1.4461 will be needed to confirm that red wave iii is developing and the bottom should be set at 1.4128.
Trading recommendation:
We will buy EUR upon a break above 1.4320 (say at 1.4330).
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 April 9 - 2015 . Thanks for your support.
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