₦airaland Forum

Elliott wave analysis of EUR/JPY for November 23, 2015

Wave summary: We continue to watch for a bottom for a rally towards 137.07. If a diagonal count is correct, then support at 130.13 should be able to protect the downside for a rally above 132.27 and more importantly a break above the resistance at 132.76 confirming the rally towards 137.07.

Should the support at 130.13 be broken the diagonal/wedge count is invalidated and downside acceleration towards 126.05 should be expected.

Trading recommendation:

We are long EUR from 131.25 with stop placed at 130.50. If you are not long EUR yet, then buy on a break above 132.27 and use the same stop, but expected to be raised quickly.

Read more: https://www.instaforex.com/forex_analysis/68811/

Technical analysis of EUR/USD for November 20, 2015

2015-11-20 0/5 Show full picture When the European market opens, economic news on the Consumer Confidence, German PPI m/m, and ECB President Draghi Speaks is due to be published. The US will not release any economic data today. So amid the reports, the EUR/USD pair will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0769.

Strong Resistance:1.0763.

Original Resistance: 1.0752.

Inner Sell Area: 1.0741.

Target Inner Area: 1.0716.

Inner Buy Area: 1.0691.

Original Support: 1.0680.

Strong Support: 1.0669.

Breakout sell level: 1.0663.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/68755/

Technical analysis of EUR/USD for November 19, 2015

When the European market opens, economic news on the ECB Monetary Policy Meeting Accounts, Spanish 10-y Bond Auction, and Current Account is due to be released. The US will release publish data on the Natural Gas Storage, CB Leading Index m/m, Philly Fed Manufacturing Index, and Unemployment Claims. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0734.

Strong Resistance:1.0727.

Original Resistance: 1.0717.

Inner Sell Area: 1.0707.

Target Inner Area: 1.0682.

Inner Buy Area: 1.0657.

Original Support: 1.0647.

Strong Support: 1.0637.

Breakout sell level: 1.0630.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/68701/

Miss Insta Asia 2015 winners awarded

The award ceremony for winners of the online beauty contest Miss Insta Asia 2015 took place at the VI annual InstaForex conference in Moscow on October 31.

According to the results of the online voting, podium places were shared as follows:

Darya Turaeva (Russia), USD 20,000 – 1

Ekaterina Starkova (Russia), USD 10,000 – 2

Elena Sandulyak (Ukraine), USD 5,000 – 3

In addition, two more contestants were traditionally awarded the special titles receiving a certificate for USD 5,000 each. Gorgeous Adriána Janisková who came from Slovakia took the Insta Choice title, and charming Ekaterina Rogozhina from Ukraine became the Forex Lady.

The festive award ceremony perfectly lightened the business atmosphere of the Forex conference attracting a crowd of spectators. Both guests and participants loudly applauded the winners who were the highlights of the evening.

The InstaForex team congratulates the ladies on their winning once again and reminds its clients that the next season of the beauty contest, Miss Insta Asia 2016, has already kicked off. The prize pool of the current stage is worth USD 45,000.

Visit [url]the Results section[/url] for more information, including colorful pictures of the award ceremony, the latest updates, photographic coverage of the contest, and interviews with the winners.

https://www.instaforex.com/company_news/7435.html

Technical analysis of Silver for November 18, 2015

Technical outlook and chart setups: Silver dropped below the level of $14.10 overnight, but is managed to recover trading above $14.25 at the moment. The metal is forming a potential morning star candlestick pattern on the H4 chart that still indicates a potential counter trend rally can take place soon. The metal should break through the resistance line and get through $14.50 to confirm the bullish setup. We prefer to stay long on trades taken earlier with risk at $14.00, but refrain from buying fresh positions until the trend line breaks. Immediate support is found at $14.10 (interim), while resistance is seen at $14.50.

Trading recommendations:

Remain long with stop at $14.00. A target is at $15.00.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/68647/

Technical analysis of EUR/USD for November 17, 2015

When the European market opens, economic news on the ZEW Economic Sentiment, German ZEW Economic Sentiment, and Italian Trade Balance is due to be released. The US will unveil economic data on the NAHB Housing Market Index, Mortgage Delinquencies, Industrial Production m/m, Capacity Utilization Rate, and Core CPI m/m, CPI m/m. So amid the reports, the EUR/USD pair will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0740.

Strong Resistance:1.0733.

Original Resistance: 1.0723.

Inner Sell Area: 1.0713.

Target Inner Area: 1.0688.

Inner Buy Area: 1.0663.

Original Support: 1.0653

Strong Support: 1.0648.

Breakout sell level: 1.0636.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/68581/

Technical analysis of EUR/JPY for November 16, 2015

Technical outlook and chart setups:

The EUR/JPY pair moved below the level of 131.00 taking stops out. But then, it has pulled back sharply above 131.50 levels again and is comfortably trading above 131.50 at the moment. As depicted on the daily chart, the pair is still holding in its Fibonacci 0.618 support zone around 131.00 trying to go through the level of 133.25, which is initial interim resistance. Aggressive trade setups are still recommended for initiating long positions with risk below 130.60. Immediate support is seen at 130.60 followed by 130.00, and lower, while resistance is seen at 133.25 and higher.

Trading recommendations:

Initiate fresh long positions with stop at 130.40, a target is open.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/68538/

Technical analysis of USD/JPY for November 10, 2015

In Asia, Japan will release data on the Economy Watchers Sentiment, Bank Lending y/y, and Current Account. The US will publish some economic data about 10-y Bond Auction, Wholesale Inventories m/m, Mortgage Delinquencies, Import Prices m/m, and NFIB Small Business Index. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 123.80.

Resistance. 2: 123.56.

Resistance. 1: 123.31.

Support. 1: 123.02.

Support. 2: 122.78.

Support. 3: 122.54.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/68288/

Technical analysis of EUR/USD for November 09, 2015 [color=#990000][/color]

When the European market opens, some economic news will be released such as Eurogroup Meetings minutes, Sentix Investor Confidence, and German Trade Balance. The US will release the macroeconomic report too such as the Labor Market Conditions Index m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0782.

Strong Resistance:1.0776.

Original Resistance: 1.0765.

Inner Sell Area: 1.0754.

Target Inner Area: 1.0729.

Inner Buy Area: 1.0704.

Original Support: 1.0693.

Strong Support: 1.0682.

Breakout SELL Level: 1.0676.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/68236/

Technical analysis of EUR/USD for November 06, 2015

When the European market opens, some economic news will be released such as French Trade Balance, French Gov Budget Balance, and German Industrial Production m/m. The US will post the economic data too such as the Consumer Credit m/m, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.0934.

Strong Resistance:1.0928.

Original Resistance: 1.0917.

Inner Sell Area: 1.0906.

Target Inner Area: 1.0881.

Inner Buy Area: 1.0856.

Original Support: 1.0845.

Strong Support: 1.0834.

Breakout SELL Level: 1.0828.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/68177/

mauriceju2:
i will trade for you and you will pay me 40% of the profit i make for you every month. whatapp 08035511478

Dear mauriceju2,

Please I will like to notify you not to send such information to this thread. If you really want to assist in trading kindly visit this link: www.instaforex.com and in the search tool type PAMM traders there you can post such information.


Thank you and once again kindly take note not to send such posts to this thread anymore.

Technical analysis of EUR/JPY for November 05, 2015

Technical outlook and chart setups: The EUR/JPY remains just shy and is bouncing ahead of 131.40/50 levels, the October 29, 2015 lows as seen here. The pair has formed a doji candlestick pattern, a few hours back and is seen to be trading around 132.07 levels for the moment. Please note that bulls could stage an impressive rally from current levels, towards 134.50 levels easily, if 131.40 remains intact. It is hence recommended to remain long for now, with risk at 131.40 or lower. Immediate support is seen through 131.40 levels (interim), followed by 130.00 and lower, while resistance is seen through 133.50/70 levels, followed by 134.00 and higher respectively.

Trading recommendations:

Remain long for now, stop at 131.20/30, a target is open for now.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/68125/

Technical analysis of USD/JPY for November 04, 2015

In Asia, Japan will release the Consumer Confidence report and Monetary Base y/y. The US will also publish some economic data such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Fed Chair Yellen Testimony, Final Services PMI, Trade Balance, and ADP Non-Farm Employment Change. So there is a big probability the USD/JPY pair will move with low to medium volatility during the Asian session, but with medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.95.

Resistance. 2: 121.72.

Resistance. 1: 121.48.

Support. 1: 121.18.

Support. 2: 120.95.

Support. 3: 120.70.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/68052/

Technical analysis of USD/JPY for November 03, 2015

In Asia, Japan will not release any economic data. However, the US will release some economic data such as Total Vehicle Sales, IBD/TIPP Economic Optimism, and Factory Orders m/m. So there is a big probability the USD/JPY pair will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 121.35.

Resistance. 2: 121.12.

Resistance. 1: 120.88.

Support. 1: 120.58.

Support. 2: 120.35.

Support. 3: 120.11.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/67990/

Elliott wave analysis of EUR/NZD for November 2 - 2015

Wave summary: We still think that the best wave count is that a bottom of the corrective decline from 1.9114 was found at 1.6124, but the move higher does look very convincing. A break above resistance at 1.6515 will do the job and call for a continuation higher to 1.6950 and above.

However, as long as resistance at 1.6515 is able to protect the upside, the risk remains that a new low below 1.6124 could be seen. The downside target would then be 1.6024.

Trading recommendation: Our stop at 1.6180 was hit and we will stay neutral for now.

Read more: https://www.instaforex.com/forex_analysis/67936/

Technical analysis of EUR/USD for October 30, 2015

When the European market opens, some economic news on the Italian Prelim CPI m/m, Unemployment Rate, Core CPI Flash Estimate y/y, CPI Flash Estimate y/y, Italian Monthly Unemployment Rate, Spanish Flash GDP q/q, French Consumer Spending m/m, and German Retail Sales m/m is due to be released. The US will publish economic news on the Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Personal Income m/m, Personal Spending m/m, Core PCE Price Index m/m, and Employment Cost Index q/q. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1040.

Strong Resistance:1.1034.

Original Resistance: 1.1023.

Inner Sell Area: 1.1012.

Target Inner Area: 1.0987.

Inner Buy Area: 1.10962.

Original Support: 1.0951.

Strong Support: 1.0940.

Breakout sell level: 1.0934.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/67878/

Winner of Sport Style: Porsche Cayman from InstaForex identified

In mid­-October, 2015 a long­awaited Porsche-­number was fixed and the owner of the main prize of the contest [url][/url]– a new luxury premium car, Porsche Cayman ­ was identified.

Porsche­-number 63937 was the closest to the trading account number which belongs to Igor Pavlov from Novorossiysk (Russia). He became the official winner. According to the contest rules, the winner reserves the right to choose the main prize and take either the brand­-new premium sports car Porsche Cayman or prize trading account with $140,000 on it. Igor has chosen the money prize.

We congratulate Igor on the victory in biannual marathon and wish him successful Forex trading!

amolak:
Bros how can i get coupon from you please

Bonus received by a coupon holder can be accrued to either new trading account or the one that has been already funded with the 30% or. 55% bonus. 3.

For further information, please kindly visit this link: https://www.instaforex.com/search.php?form=tr&q=instaforex+bonuses&y=15&q_lang=en

If you have any question please do not hesitate to send me a message here in this platform.

Thank you and have a great day.

Elliott wave analysis of EUR/NZD for October 29, 2015

Wave summary: We saw a nice test of strong resistance near 1.6500 yesterday, but no break above this resistance was seen. We do however expected that a break above here will be seen soon for a move closer to 1.6950. That said we also have to be aware of the risk of a breakout below support at 1.6124, which is likely to extend the downside for a decline closer to 1.5882. This is not our preferred outcome, but if support at 1.6124 is broken that will become our preferred count.

Trading recommendation:

We are long EUR from 1.6390 with stop placed at 1.6180. If you are not long EUR yet, then wait a buy a break above 1.6515 for a rally closer to 1.6950.

Read more: https://www.instaforex.com/forex_analysis/67797/

Technical analysis of EUR/USD for October 28, 2015

When the European market opens, some economic news on the German 10-y Bond Auction, GfK German Consumer Climate, and German Import Prices m/m is due to be released.The US will unveil economic data on the Federal Funds Rate, FOMC Statement, Crude Oil Inventories, and Goods Trade Balance. So amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout buy Level: 1.1087.

Strong Resistance:1.1081.

Original Resistance: 1.1070.

Inner Sell Area: 1.1059.

Target Inner Area: 1.1033.

Inner Buy Area: 1.1007.

Original Support: 1.0996.

Strong Support: 1.0985.

Breakout sell Level: 1.0979.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/67734/

Technical analysis of EUR/USD for October 27, 2015

When the European market opens, economic news on Private Loans y/y and M3 Money Supply y/y is due to be released. The US will publish data about the Richmond Manufacturing Index, CB Consumer Confidence, Flash Services PMI, S&P/CS Composite-20 HPI y/y, Durable Goods Orders m/m, and Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1111.

Strong Resistance:1.1105.

Original Resistance: 1.1094.

Inner Sell Area: 1.1083.

Target Inner Area: 1.1057.

Inner Buy Area: 1.1031.

Original Support: 1.1020.

Strong Support: 1.1009.

Breakout SELL Level: 1.1003.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/67665/

amolak:
thanks, I mailed them, i was given excused that my account is over a month, so i can't get the bonus. I think instaforex is not ready to give no deposit bonus.
they intentionally delay my verification for over a month

Dear Amolak,

So sorry about that, it's wasn't as if InstaForex doesn't want to give you the bonus but just like you were been told that that for someone whose account is over a month can't really get to receive the bonus.

But you can actually visit this link: www.instaforex.com for more details.

If you have any question, please do not hesitate to send me a message here in this platform.

Elliott wave analysis of EUR/JPY for October 26, 2015

Wave summary:

The first wave iii target at 132.98 has almost been tested, and I would continue to look lower for a firm test of this target and even lower to the 200% extension target at 132.17 where strong support will be found. If the later target is broken too, the way lower to 126.05 and below should be cleared.

Resistance at 134.27 should be able to protect the upside for a decline to 132.98 and even lower.

Trading recommendation:

We are short EUR from 135.95 and take profit is at 133.00. We will move our stop lower to 134.30. As we are getting closer to a possible low for wave iii, we recommend waiting to sell EUR close to 134.27 in wave iv.

Read more: https://www.instaforex.com/forex_analysis/67601/

Change in market opening time

Dear clients,

Please be informed that on October 26, 2015, the trading session will be opened 1 hour later, at 01:00 UTC+3.

This change is pertaining to Europe's transition to winter time, while the United States is supposed to switch to it one week later.

Starting from November 2, 2015, after the trading server is switched to winter time, the trading week will begin as usual, at 00:00 on Monday.

Please take this fact into account and make changes to your trading strategies if necessary.

amolak:
InstaForexyemi pls, i got a message about instaforex no deposit bonus, how can i get it? i am being verified

Dear Amolak,

To get the bonus, you need to proceed to registration of your live trading account and follow the simple verification procedure. The main condition to get the bonus is the absence of other bonuses, including fixed bonuses, 30% Bonus, and 55% Bonus.
Every client of InstaForex is entitled to receive the No Deposit Bonus only once. Moreover, the broker provides flexible conditions to receive the No Deposit Bonus mean that customers can withdraw bonus funds in case of efficient forex trading.

For more details, please kindly visit this link: https://www.instaforex.com/nodeposit_bonus.php.

If you have any further question, please do not hesitate to send me a message here in this platform.

Technical analysis of EUR/USD for October 20, 2015

When the European market opens, some economic news on the Current Account and German PPI m/m is due to be released. The US will publish economic data about Housing Starts and Building Permits. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1385.

Strong Resistance:1.1378.

Original Resistance: 1.1367.

Inner Sell Area: 1.1356.

Target Inner Area: 1.1329.

Inner Buy Area: 1.1302.

Original Support: 1.1291.

Strong Support: 1.1280.

Breakout SELL Level: 1.1273.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/67359/

Daily analysis of Silver for October 19, 2015

Overview

Silver price fluctuates near the critical resistance level at 15.85, waiting for a breach to ease resuming the bullish trend, which got continuous support from the EMA 50, reminding you that our next target is seen at 16.30 and then at 16.85. In general, the positive scenario will remain valid and active unless the level of 15.40 gets broken. The price is holding below it, pointing that stochastic gains positive momentum gradually to reinforce the bullish track expectations. Nevertheless, silver is still trading above 38.2% Fibonacci at 15.42 and above moving averages, which contradicts with the downside tendencies seen after touching the levels of 16.00.

Read more: https://www.instaforex.com/forex_analysis/67301/

amyliajane:
thank u

Elliott wave analysis of EUR/NZD for October 16, 2015

Wave summary:

With an adjusted count, we where looking for a final decline to 1.6544 and we have seen a low at 1.6486. We think that a low is in place for a new rally higher to at least 1.8019 and possibly even higher.

In the short term, we need support at 1.6486 to protect the downside for a break above minor resistance at 1.6707 as the first good indication that a bottom is in place. To confirm the bottom, a break above resistance at 1.6851 is needed.

Trading recommendation:

We bought EUR at 1.6555 and will place our stop at 1.6480. If you are not long EUR yet, buy on a break above 1.6670 and use the same stop.

Read more: https://www.instaforex.com/forex_analysis/67237/