Technical summary:
We saw a new test of resistance at 1.6826, but no breakthrough is observed yet. Only a break above the resistance at 1.6826 will release the upside pressure and call for a continuation towards 141.06 and 144.03.
As long as the resistance at 1.6826 is able to protect the upside, we shall remain locked inside a range between 1.6554 and 1.6826, with risk of a larger range between 1.6374 and 1.6826.
Trading recommendation:
We are long EUR from 1.6603 with stop at 1.6550. If you are not long yet, wait for a breakout above 1.6826 before buying EUR.
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 August 6, 2015 . Thanks for your support.
No comments:
Post a Comment