Technical summary:
Wave c of the expanded flat correction continues to unfold as expected. We are looking for a bottom for wave c at 1.4725. Short term, we expect minor resistance near 1.5062 will protect the upside for a break below support at 1.4995 for a continuation lower to 1.4725.
It will take an unexpected break above resistance at 1.5208 to indicate a bottom for wave (ii) already is in place.
Trading recommendation:
We will sell EUR at 1.5050 or upon a break below 1.4995 with stop placed at 1.5195.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/NZD for May 26 - 2015 . Thanks for your support.
No comments:
Post a Comment