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  #21  
Old 07-07-2015, 20:29
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We continue to look for a breakout higher towards the next upside target at 1.7154. Looking at the rally from 1.3860, we have already seen five waves. So, no more progress is required in theory, but we would be surprised if a dowside break is already seen.
It will take a break below the support line from 138.60, which is currently near 1.6225, to indicate that the top is already in place.

Trading recommendation:
We are long EUR from 1.6588 with stop placed at 1.6310. If you are not long EUR already, buy on a break above 1.6625 with your stop placed at 1.6410.




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  #22  
Old 09-07-2015, 19:23
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We are still trading in a narrow range. As long as minor resistance at 1.6522 protects the upside, we could still see a move slightly lower to 1.6250 before a new rally set in to 1.7154. A breakout below 1.6320 will change the short-term count and indicate that wave ii has become an expanded flat correction.
Only an unexpected break below 1.6035 could indicate a top being in place for a deeper correction.

Trading recommendation:
We are long EUR from 1.6588 with stop placed at 1.6300. If you are not long EUR yet, Then buy close to 1.6320 with the same stop at 1.6300




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  #23  
Old 13-07-2015, 21:15
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
With a low of 1.6329, important support at 1.6320 held well and protected the downside for a new rally. In the short term, we expect minor support at 1.6464 to be able to protect the downside for a break above 1.6625 confirming the next impulsive rally higher towards 1.7031 and 1.7154.
It will still take a break below important support at 1.6320 to invalidate the bullish outlook and call for a deeper correction of the rally from 1.3880 to 1.6587.

Trading recommendation:
We are long EUR from 1.6588 with stop placed at 1.6300. If you are not long EUR yet, then buy EUR near 1.6464 with the same stop at 1.6300.




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  #24  
Old 15-07-2015, 21:52
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
Once again our patience was tested as blue wave ii moved lower than expected, but important support at 1.6329 was never in any real danger of being broken. We will now look for a break above minor resistance at 1.6535 confirming that blue wave iii higher is developing for a rally towards at least 1.6907 and more likely even higher to 1.7050 on the way higher to 1.7154.
Only an unexpected break below support at 1.6329 will force a re-count for the short term.

Trading recommendation:
We are long EUR from 1.6588 and will keep our stop at 1.6320. If you are not long EUR yet, then buy a break above 1.6535 and use the same stop at 1.6320.




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  #25  
Old 17-07-2015, 09:15
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We have seen a low of 165.84 (just below our support at 1.6590) and we think it's just a matter of time before blue wave iii moves higher towards 1.6915 and 1.7050 on its way to 1.7245. In the short term, a breakout above minor resistance at 1.6714 will confirm that the correction from 1.6812 is over and renewed strength towards 1.6915 and even 1.7050 should be expected.
Only a breakout below 1.6607 will delay the expected upside pressure for a move closer to 1.6560 before making the next attempt to push the price higher again.

Trading recommendation:
We are long EUR from 1.6588 with our stop placed at 1.6490. Upon a break above 1.6714, we will move our stop higher to break-even.




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  #26  
Old 22-07-2015, 11:24
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
A break below support at 1.6349 indicates that wave 1 has found a top at 1.6812 and correction in wave 2 is unfolding now. We will be looking for an opportunity to test the level of 1.6115, which acts as both the bottom of wave (iv) and the 23.6% corrective target.
In the short term, we will look for resistance to be found at 1.6568, to break below minor support at 1.6400 confirming that the next part of a decline towards 1.6115 is taking place.

Trading recommendation:
Our stop at 1.6425 was hit with a loss and we sell EUR at 1.6565 our stop placed at 1.6640. Take profit will be placed at 1.6125




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  #27  
Old 23-07-2015, 10:18
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
A back-test of the broken support-line has been seen and we are looking for a decline to the bottom of wave (iv) at 1.6035, which also marks the 23.6% corrective target of a rally in wave 1. This correction is wave 2 could be deep, but we have seen the cross producing only very small corrections in the second wave and therefore do not want to overstate the downside potential.

Trading recommendation:
We sold EUR at 1.6565 with stop placed at 1.6640 and take profit placed at 1.6125. Do not be too aggressive towards the downside thus.




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  #28  
Old 24-07-2015, 09:54
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
A break above 166.39 has changed a corrective pattern or maybe even complete sub-normal corrective zig-zag at 1.6325. We do prefer more corrective behavior, but is the correction in this cross can be very small. Now we are looking for an opportunity to test the top at 1.6812 in a flat, but it could turn into an expanded flat, which would call for a rally to 1.7000 before turning lower to 1.6115 to finish its correction in wave 2.

Trading recommendation:
Our stop at 1.6640 was hit for a small loss and we will stay neutral for now.




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  #29  
Old 30-07-2015, 21:37
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
The flat correction in wave 2 is still unfolding and we could finally see a new low just below 1.6325 before this correction is over. A new rally towards 1.7277 is expected. In the short term, the final push lower can be seen as long as resistance at 1.6602 is able to protect the upside. Any break above resistance at 1.6602 will indicate that wave 2 is over and wave 3 is headed higher towards the first target at 1.7277 is developing.

Trading recommendation:
We are looking for an opportunity to buy near 1.6335 or upon a break above 1.6602.




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  #30  
Old 07-08-2015, 18:28
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We are still locked inside a very narrow consolidation-area between 1.6554 and 1.6791. We continue to look for an upside break for a continuation higher towards 1.6995 and 1.7277. Only a break below 1.6554 will delay the expected upside pressure closer to 1.6320 before moving higher again.

Trading recommendation:
We are long EUR from 1.6603 with stop placed at 1.6550. If you are not long EUR yet, then wait for a break above resistance at 1.6791 before buying EUR.




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  #31  
Old 14-08-2015, 21:03
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
The break above 170.77 indicates that an expanded flat correction is unfolding. This means a continuation higher to 1.7198 as an ideal target with an outside chance for a rally higher to 1.7273 if the b-wave extends before downside in wave c. The short-term support is found at 1.6966 which ideally should protect the downside for the rally towards 1.7198 in wave b before lower in wave c. Only a direct break below 1.6893 will indicate that wave b peaked early and wave c is already unfolding. Trading recommendation: We were not looking for an extended flat, so our stop at 1.7078 was hit. We will wait to sell EUR at 1.7185 with stop placed at 1.7285.


Trading recommendation:
We were not looking for an extended flat, so our stop at 1.7078 was hit. We will wait to sell EUR at 1.7185 with stop placed at 1.7285




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  #32  
Old 27-08-2015, 20:33
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
Small consolidation seen over the last couple of days does look like a small triangle. As we think the final rally in wave (iii) is still missed, we regard this triangle as red wave 8iv) and will be looking for one more rally higher in red wave iv to 1.9141. We are aware of the risk of being a b-wave triangle. In this case, we will see a break below support at 1.7426 in order to make a decline towards 1.6495.

Trading recommendation:
We will buy on a break above 1.7866 with stop placed at 1.7420 or we will sell on a break below support at 1.7426 with stop placed at 1.7870 (one order cancels the other)




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  #33  
Old 01-09-2015, 22:23
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Overview:
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.7843. In the daily time frame, we can observe a demand bar in a volume below the average. The trend is neutral. Our Fibonacci expansion 61.8% at the level of 1.7325 held successfully. Anyway, we saw that supply came in according to the H1 time frame. Buying still looks risky, since we got strong weakness on the background. Watch only for selling opportunities after retracement. Support is seen around the level of 1.7275. We need to see a change in trend behavior from neutral to downward and then we can watch for selling opportunities.

Trading recommendations:
Watch only for selling opportunities after retracement




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  #34  
Old 02-09-2015, 20:29
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
As long as important support at 1.7103 protects the downside, a bullish case can be made for one final rally that ideally should break above the wave iii higher at 1.9023. The wave iii high at 1.9023 is far away and we think that the possible risk of a fifth wave failure is bigger than usual. It leaves us with a bigger risk towards the upside and the downside, so at this point we prefer to wait for the larger and clearer picture.

Trading recommendation:
Stay neutral for now and wait for a more clear picture.




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  #35  
Old 04-09-2015, 19:49
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
There is still no verdict here. As long as support at 1.7103 stays intact, one more rally higher to 1.9023 and above can not be excluded. To confirm a new rally higher towards 1.9023, a break above minor resistance at 1.7743 and more importantly a break above resistance at 1.7896 should be seen. That said, we are a bit reluctant to make a strong call for one final rally above 1.9023. The reason behind it is that the top of wave iii seems to move very far away and risk of a wave five failure could be much greater than normally.

Trading recommendation:
The trend is still up. Support at 1.7103 is still holding firm, so we would normally be buying EUR, but the risk seems much greater than normal, so for now we will stay neutral.




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  #36  
Old 09-09-2015, 20:55
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
A triangle formation should be finished soon. We still belive that this is a wave (iv) triangle and that it will call for a thrust out of the triangle towards the upside. A break above resistance at 1.7881 will confirm the upside thrust. Of course, it can turn out to be a B-wave triangle, which a break below support at 1.7304 will confirm.
Now we are at levels that makes the risk better to handle. So, we can wait for the thrust out of the triangle either at 1.7881 for the next rally or below support at 1.7304 for more declines. Or we could buy EUR here with a stop and revers at 1.7300.

Trading recommendation:
We think that we are at levels, where the risk is manageable again. We will buy EUR at 1.7490 and place our stop at 1.7300




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  #37  
Old 11-09-2015, 13:22
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
Now we can see an expected thrust out of the triangle towards the upside and it should just be a matter of time before we will see the next impulsive rally higher to 187.02. In the short term, a break above resistance at 1.8004 will confirm the rally higher.
Support is now found near 1.7792 and again at 1.7622, which will ideally protect the downside for a break above 1.8004 and the rally towards 1.8702

Trading recommendation:
We are long EUR from 1.7490 and will keep our stop at 1.7300. If you are not long EUR yet, then buy on a break above 1.7968 with stop placed at 1.7800.




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  #38  
Old 15-09-2015, 18:10
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We do not see any changes here as we are still looking for a firm breakout above resistance at 1.7996 in order to perform the next rally higher to 1.8289 and even high to 1.8702 in wave iii of (v). In the short term, we expect minor support at 1.7777 to protect the downside for a breakout above 1.7996.

Trading recommendation:
We are long EUR from 1.7490 with stop placed at 1.7620. If you are not long EUR yet, buy on a break above 1.7996 and place you stop at 1.7775.




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  #39  
Old 16-09-2015, 23:16
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We continue to look for a strong rally higher to 1.8289, but the correction in wave ii has taken longer than first expected. To confirm that the correction in wave ii is over, we need a break above resistance at 1.7955, which will call for the next impulsive rally in wave iii towards 1.8289 and more likely higher to 1.8702 as wave iii was expected to extend.

Trading recommendation:
We are long EUR from 1.7490 with stop placed at 1.7620. If you are not long yet, buy on a break above 1.7955 with stop placed at 1.7620.




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  #40  
Old 17-09-2015, 16:19
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
A correction in wave ii has taken more time than first expected, but nothing else has changed. We are still looking for a break above resistance at 1.7866
to enable a rally towards at least 1.8288 and most likely even higher to 1.8682 in wave iii.
Ideally, support at 1.7702 will be able to protect the downside for a breakout above 1.7866.

Trading recommendation:
We are long EUR from 1.7490 with stop at 1.7620. If you are not long EUR yet, then buy on a break above resistance at 1.7866 with stop placed at 1.7700




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