31.03.201605:47 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for March 31 - 2016

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Wave summary:

We have likely seen a low at 1.6229 just above the 1.6210 target. To confirm that a low has been seen, we need a break above minor resistance at 1.6508 and, more importantly, a break above resistance at 1.6725 that will call for renewed upside pressure towards 1.7220 and 1.8551.

Hopefully, we will see upside acceleration this time around, then we will not set our expectations too high as we have been disappointed a couple of times now.

Trading recommendation:

We bought EUR at 1.6250 and will place our stop at a break-even point. If you are not long in EUR yet, then buy near 1.6292 or upon a break above 1.6508.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.