Technical summary:
A flat correction from 1.6812 is still unfolding. We will be looking for an opportunity of a new test at 1.6812 before renewed downside pressure in wave c, which is expected below 1.6325 to end wave 2 and set the stage for wave 3 much higher.
The correction in wave 2 could turn out into an expanded flat, which would call for a push in wave b towards 1.7002 before wave c moves lower to 1.6217 to end wave 2 and wave 3 to move higher.
Trading recommendation:
Will will keep our neutral stance until the picture gets more clear.
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 July 27 - 2015 . Thanks for your support.
No comments:
Post a Comment