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  #41  
Old 18-09-2015, 16:40
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
Important resistance at 1.8000 is still firm. The pair needs to breakout this line to continue higher towards at least 1.8288 or even higher to 1.8682.
In the short term, support at 1.7674 should protect the downside or we run a risk of returning back to strong support at 1.7400.

Trading recommendation:
We are long EUR from 1.7490. We will move our stop higher to 1.7665. If you are not long EUR yet, buy only on a breakout above 1.8000 and place stop at 1.7800.




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  #42  
Old 23-09-2015, 15:39
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We continue to look for a move closer to 1.7450, but we also accept the wave ii could be over at 1.7587. In case it happens, we should see a break above minor resistance at 1.7858 in the nearest term and more importantly a break above important resistance at 1.8000 for a continuation higher to 1.8683 in wave (iii).

Trading recommendation:
We will buy EUR at 1.7460 or upon a break above 1.8000 (one order done cancels the other)




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  #43  
Old 25-09-2015, 15:56
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We are still locked within the larger range between 1.7466 - 1.8000. We expect a final decline closer to the 1.7466 low before then next impulsive rally to above 1.8000 for a continuation higher to 1.8683. In the short term, a break below support at 1.7583
will confirm the move closer to strong support near 1.7466 from where the next impulsive rally should take off.

Trading recommendation:
We have place a EUR buy-order at 1.7475 and one upon a break above 1.7775. One order done cancels the other.





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  #44  
Old 29-09-2015, 16:11
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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 1.7895. In the daily time frame, we can observe a demand bar in an average volume. The intraday trend is downward. According to the M15 chart, we can see weaknesses in strong downward momentum. Watch for potential selling opportunities after retracement. Potential target zone is around the prices of 1.7550-1.7450.

Trading recommendations:
Be careful when buying and watch for potential selling opportunities.




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  #45  
Old 01-10-2015, 03:12
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
No change is observed here. We continue to watch for a breakout above important resistance at 1.8000 that confirms a continuation higher to 1.8683. It will take an unexpected breakout below support at 1.7454 to invalidate the bullish outlook.

Trading recommendation:
We are long EUR from 1.7475 with stop placed at 1.7450. If you are not long EUR yet, buy near 1.7585 or upon a break above 1.7901 with the same stop at 1.7450.





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  #46  
Old 01-10-2015, 22:39
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We have seen a breakout below 1.7453, which was quite unexpected and that has shifted the picture from a potential bullish count to a bearish calling for more downside toward 1.6781 where this correction will have corrected 38.2% of a rally from 1.3881 to 1.8554. In the short term, we expect minor resistance at 1.74994 to protect the upside for a decline to 1.7070.

Trading recommendation:
Our stop at 1.7450 was hit for a small loss, We will sell EUR at 1.7480 with stop placed at 1.7580.




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  #47  
Old 02-10-2015, 19:10
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
A breake below the support at 1.7466 calls for more corrective declines closer to 1.6781. In the short term, we expect that the resistance at 1.7523 will be able to protect the upside for the next decline towards 1.7146 on the way lower to 1.6781.

Trading Recommendation:
We are short EUR from 1.7480 with a stop placed at 1.7580. If you are not short EUR yet, then sell a break below 1.7410 with a stop at 1.7525.




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  #48  
Old 08-10-2015, 10:11
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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 1.7119. In the daily time frame, we can observe a supply bar in an average volume. The intraday trend is neutral. On the H1 chart, we can observe a strong downward trading channel so be careful when buying EUR/NZD. I placed Fibonacci retracement to find potential mid-term support levels and got Fibonacci retracement 38.2% at the level of 1.6860, Fibonacci retracement 50% at 1.6280, and Fibonacci retracement 61.8% at 1.5740. Watch for potential selling opportunities after retracement.

Trading recommendations:
Be careful when buying and watch for potential selling opportunities




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  #49  
Old 09-10-2015, 07:27
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
We are reaching the first downside target at 1.6781. In the short term, we will see minor resistance at 1.7016 protecting the upside for a decline to 1.6781. A breakout above minor resistance at 1.7016 indicates that the bottom is in place for a rally back to at least 1.7125. Above here, we expect the first strong indication that wave 2 is over and a new impulsive rally is developing.

Trading recommendation:
If you are short EUR then move you stop lower to 1.7020 and keep your take profit at 1.6790. You might even consider buying EUR at 1.6790 with a stop at 1.6680.




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  #50  
Old 14-10-2015, 10:26
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Technical summary:
Wave iv has become a flat correction, which alternates nicely with wave ii that was a simple zig-zag correction. Once wave iv is over, we are still looking for one final dip closer to the downside target at 1.6781 where we expect a bottom to be found for a nice strong rally back to at least 1.8020. If a more complex correction is about to unfold in the bigger picture, resistance at 1.8020 is unlikely to be broken. However, for now we should stay focused towards the downside test of 1.6780 as long as resistance at 1.7125 protects the upside.

Trading recommendation:
We will buy EUR at 1.6785 or upon a break above 1.7125 (one order done cancels the other) stop will be placed at 1.6685.




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  #51  
Old 15-10-2015, 12:05
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave Summary:
We clearly were a bit too early to call for a bottom at 1.6820. More downside room closer to our original target at 1.6781 is observed now. The question is whether the bottom is in place at the moment? Good news is that we are very close to a firm bottom for at least a sizable rally. However, as long as minor resistance at 1.6955 protects the upside, we could see a deeper decline in wave v, as wave v will be equal to wave i at 1.6544. Wave v has hit a downside target and could turn higher anytime soon.

Trading recommendation:
Our stop was hit for a loss. We will re-buy EUR at 1.6555 or upon a break above resistance at 1.6955 (one order done cancels the other).




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  #52  
Old 16-10-2015, 10:10
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

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.




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  #53  
Old 20-10-2015, 18:46
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
We thought that a firm bottom was seen at 1.6486 and a new impulsive rally was slowly developing. In the short term, we would like to see a break above the base-channel resistance line near 1.6851 for a continuation higher towards important resistance at 1.7198.
It will confirm that a firm bottom is in place. In the long term, a breakout above 1.7198 will also call for a rally higher to 1.8021 and above here being very bullish. Only an unexpected breakout below 1.6485 will point to more downside pressure.

Trading recommendation:
We are long EUR from 1.6555 with stop placed at 1.6480. If you are not long EUR yet, buy near 1.6590 or upon a break above 1.6750 and use the same stop at 1.6480.




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  #54  
Old 21-10-2015, 16:09
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
We have seen an expected move higher. Now we are looking for a break above the base-channel resistance line near 1.6858 and a break above here will confirm upside acceleration.
We still need a break above important resistance at 1.7198 to confirm that a firm bottom was seen at 1.6486 and a new rally to at least 1.8019 is unfolding. A break above 1.8019 will be very bullish and call for a continuation higher to 1.9114 and above toward 2.1242 in the longer term.

Trading recommendation:
We are long EUR from 1.6555 and will move our stop higher to 1.6540. If you are not long EUR yet, buy near 1.6740 or upon a break above 1.6858 and use the same stop at 1.6540.




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  #55  
Old 22-10-2015, 14:10
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
A failure to break above the base-channel resistance line has forced a less aggressive path, than we had first expected. However, support at 1.6546 should continue to protect the downside for a new attempt to break above the base-channel resistance line for upside acceleration towards 1.7198 and 1.8019.
Only an unexpected break below support at 1.6546 will question whether or not the bottom is in place.

Trading recommendation:
We are long EUR from 1.6555 with stop placed at 1.6540. If you are not long EUR yet, then buy near 1.6546 and use the same stop at 1.6540.




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  #56  
Old 23-10-2015, 07:38
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
We did not expect a break below 1.6486, but it told us that a decline from 1.8019 was not over yet and more downside was needed. We have adjusted our wave count accordingly and the next downside target is found at 1.6075, which is just above the 61.8% corrective target of a rally from 1.3884 to 1.9114 that is seen at 1.5882. Therefore, we will be looking for signs of a bottom in the area.
At this point it will take a break above 1.6499 to indicate a bottoming being in place.

Trading recommendation:
Our stop at 1.6540 was hit for a very small loss. We will be looking for new EUR-buying opportunities in the area of 1.5882 - 1.6075.




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  #57  
Old 28-10-2015, 12:36
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
With a breakout above 1.6390 we can see the first indication that a bottom was found at 1.6124 and a new impulsive rally is about to develop. The next resistance to look for is found at 1.6546 and a breakout above here will be a strong indication of a bottom being in place and for a continuation higher to 1.6950 or just above this resistance. To mark the top of wave i.

Trading recommendation:
We bought EUR at 1.6390 and have placed our stop at 1.6180. If you are not long EUR yet, buy EUR near 1.6390 and use the same stop at 1.6180.




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  #58  
Old 29-10-2015, 12:03
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

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.




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  #59  
Old 30-10-2015, 11:29
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
We have been locked in a range between support at 1.6186 and resistance at 1.6515. As long as support at 1.6186 protects the downside, we do expect that resistance at 1.6515 sooner or later will be broken for a rally towards 1.6950 and above will confirm the bottom for wave 2 is in place at 1.6124 and a new strong rally higher to at least 1.8019 should be expected. If however, support at 1.6186 gives away, the bottom is not yet set in place and a new low slightly below 1.6124 should be expected, but the downside potential seems to be limited from here.

Trading recommendation:
We are long EUR from 1.6390 with stop placed at 1.6180. If you are not long EUR yet, the buy near 1.6186 and use a close stop at 1.6180.




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  #60  
Old 04-11-2015, 00:32
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
We continue to look for confirmation that wave 2 has bottomed. As long as resistance at 1.6515 protects the upside, one final decline closer to the 61.8% corrective target at 1.5882 can not be excluded, but from there or upon a break above resistance at 1.6515 a new impulsive rally higher to at least 1.8020 would be expected. In the longer term, a break above 1.9114 should be seen.

Trading recommendation:
We will buy EUR at 1.5900 or upon a break above 1.6520




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