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Daily technical analysis of EUR/NZD By INSTAFOREX

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  #281  
Old 25-08-2017, 13:20
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD is consolidating near minor resistance at 1.6348, but it should only be a matter of time before this resistance is cleared and the uptrend continues towards 1.6636 and 1.6969.
Short-term support is seen at 1.6288, which is expected to protect the downside for the next rally higher towards 1.6636.

Trading recommendation:
We are long EUR from 1.6125 with stop placed at 1.6225. If you are not long EUR yet, then buy near 1.6289 and use the same stop at 1.6225.




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  #282  
Old 01-09-2017, 10:02
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary;
Our long-term outlook continues to point higher towards the diamond formation target at 1.9900.
Short-term, we are looking for a minor correction close to 1.6171 from where the next rally higher to 1.6636 and 1.6969. A break below minor support at 1.6451 confirms the expected corrective decline closer to 1.6171.

Trading recommendation:

We are looking for a EUR buying opportunity in the 1.6171 - 1.6348 area.




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  #283  
Old 01-09-2017, 10:13
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary: The decline from 1.6634 has been very small and EUR/NZD is already breaking higher, which indicates an running triangle is developing. The minor rally from 1.6438 is viewed as red wave b of red wave iv and should be followed by another decline closer to 1.6348 and possibly even closer to 1.6171 in red wave c. This will be the deepest part of this corrective consolidation, which will be followed by another rally higher towards 1.6969.

Trading recommendation:
We are looking for a new EUR-buying opportunity in the 1.6171 - 1.6348 area.




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  #284  
Old 06-09-2017, 12:42
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
The expected correction in red wave iv is unfolding as expected. Short-term, we expect minor resistance at 1.6541 to cap the upside for another turn lower towards 1.6348 to complete red wave a of red wave iv.
The ideal target for red wave iv is seen at 1.6171, but it can not be excluded that red wave iv completes slightly before this target.

Trading recommendation:
We are looking for a EUR-buying opportunity in the 1.6171 - 1.6348 area.




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  #285  
Old 07-09-2017, 15:41
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
One could make the case that red wave iv completed already with the test of 1.6407, but then a break directly above resistance at 1.6611 will be needed. Such a break will call for red wave v towards 1.6969. If, however, resistance at 1.6611 is able to cap the upside, we should see another zig-zag decline lower to 1.6314 - 1.6348 area to completed red wave iv and set the stage for the next impulsive rally in red wave v towards 1.6969.

Trading recommendation:
We are looking to buy EUR at 1.6360 or upon a break above 1.6611.




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  #286  
Old 09-09-2017, 10:45
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
The break above the minor resistance at 1.6616 is a strong indication that red wave iv completed already at 1.6407 and red wave v/ towards 1.6969 now is developing. Short-term, we are looking for minor support at 1.6469 to be able to protect the downside for the next impulsive rally higher to at least 1.6758 and possibly even closer to 1.6969 in red wave v.

Only an unexpected break below 1.6407 will confirm that red wave iv has not completed yet, but the potential downside should be very limited.

Trading recommendation: We are long EUR from 1.6611 with stop placed at 1.6400. If you are not long EUR yet, then buy near 1.6469 and use the same stop at 1.6400.





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  #287  
Old 15-09-2017, 17:49
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
Ideally the minor support at 1.6327 will continue to protect the downside for a rally above 1.6570 confirming, that red wave v higher towards at least 1.6883 is developing. Longer term, we continue to look for much higher levels for this cross, but sometimes this cross move is slow-motion and is not really going anywhere.

Trading recommendation:
We are long EUR from 1.6395 with stop placed at 1.6295. If you are not long EUR yet, then buy a break above 1.6569 and use the same stop at 1.6295.




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  #288  
Old 22-09-2017, 01:03
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
Red wave iv continues to extend lower. By breaking below support at 1.6269, the next possible target for red wave iv is seen in the 1.5993 - 1.6055 area from where the next impulsive rally towards 1.6763 is expected.

Trading recommendation:
Our stop at 1.6255 was hit for a loss. We are looking for a new EUR-buying opportunity at 1.6060 with stop placed at 1.5960.




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  #289  
Old 22-09-2017, 15:10
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
Red wave iv stopped cold at 1.6137 and turned strongly higher and a break above minor resistance at 1.6441 will confirm that red wave iv has completed and red wave v higher towards 1.6875 is developing.
A minor break above 1.6441 will likely be followed by a correction to 1.6245 before turning higher again for the expected rally to 1.6875.

Trading recommendation:
We missed our buying opportunity at 1.6060. We will place a new EUR-buy order at 1.6265 with stop placed at 1.6150.




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  #290  
Old 11-10-2017, 02:52
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD should soon take out the "old" top at 1.6690 for a continuation higher towards 1.6712 and after a minor consolidation, a continuation higher to 1.7038 should be expected. Support is now seen at 1.6561, which ideally will protect the downside for the rally to 1.6712. Should a break below 1.6561 be seen, that will extend the correction lower to support at 1.6487 before moving higher again.

Trading recommendation:
We are long EUR from 1.6365 and will move our stop higher to 1.6465. If you are not long EUR yet, then buy near 1.6561 and use the same stop at 1.6465.




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  #291  
Old 11-10-2017, 02:54
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Recently, the Gold has been trading upwards. The price tested the level of $1.292.90. According to the 15M time – frame, I found a rising wedge in creation, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities if the price breaks the support of the pattern ($1,290.00). I also found a hidden bearish divergence on the moving average oscillator, which is another sign of weakness. The downward target is set at the price of $2,282.30 (pattern projection).

Trading recommendations for today:
watch for potential selling opportunities.




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  #292  
Old 12-10-2017, 18:41
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary: With a little detour to 132.45 wave C moved higher and has now spiked the 133.25 target. We continue to view the entire consolidation since the low of wave A at 131.70 as a corrective B-wave. Corrective B-waves are the most difficult to decipher and trade, because of the multiple different paths they can take, but that does not change our view, that a C-wave decline lower to 130.73 still is needed.
We are looking for a top in wave B between 133.60 - 133.75 for the expected decline in wave C.

Trading recommendation:
Our sell-order at 132.65 was hit before the rally higher, so we are short EUR from 132.65 with stop placed at 134.45. If you are not short-EUR yet, then sell near 133.60 and use the same stop at 134.40.




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  #293  
Old 13-10-2017, 13:46
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
The decline from 1.6760 moved lower than expected, but none the less it's still regarded as corrective and soon should be replaced by another rally towards at least 1.6824 and possibly higher to 1.7005.
Ideally, support at 1.6565 will continue to protect the downside for the expected rally higher.

Trading recommendation:
Our stop at 1.6600 was hit for a nice 265 pips profit. We will buy EUR here at 1.6600 with a stop placed at 1.6550.




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  #294  
Old 17-10-2017, 19:40
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
Wave a of ii completed with a spike to 1.6341 and wave b towards at least 1.64755 and possibly even closer to 1.6529 should now be expected before the final decline in wave c close to 1.6160 to complete wave ii and set the stage for the next strong rally higher.

Trading recommendation:
We will sell EUR at 1.6525 and place stop at 1.6635.




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  #295  
Old 20-10-2017, 14:01
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
There was no time for a deeper correction towards 1.6150. Wave iii towards 1.8032 is already well underway. The base channel resistance near 1.7030 will mark the first resistance, but if wave iii higher is developing, then this resistance should pose as no more than a temporary hurdle and once cleared the road higher to 1.8032 should be free.
Support is now seen in the 1.6816 - 1.6836 area for the next rally higher towards 1.7030.

Trading recommendation:
Our EUR short position from 1.6635 was stopped out at 1.6675 for a 40 pips loss. We will buy EUR at 1.6840 with a stop placed at 1.6700.




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  #296  
Old 25-10-2017, 17:06
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD is now testing the channel resistance-line near 1.7040, which could cap the upside for the short-term and cause a new minor correction close to 1.6784 before the next strong rally should be expected for a clear break above the channel resistance-line this time and a continuation higher to 1.7777.
Short-term a break below minor support at 1.6958 will confirm more downside pressure to 1.6784 before up again.

Trading recommendation:
We are long EUR from 1.6840 and will move our stop higher to 1.6950.




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  #297  
Old 27-10-2017, 19:43
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
As long as minor support at 1.6958 is able to protect the downside, we will be looking for more upside towards 1.7454 and 1.7777 as the next upside targets. If, however, minor support at 1.6958 gives away, that shifts the preferred if favor of wave i completing the test of 1.7216 and a corrective decline in wave ii developing towards the 1.6165 - 1.6216 area before moving higher again in wave iii.

Trading recommendation:
We are long EUR from 1.6840 with stop placed at 1.6950.




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  #298  
Old 02-11-2017, 04:19
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary;
The failure to sustain the rally from 1.6821 indicates that the rally to 1.7059 only was corrective and more downside pressure should be expected towards 1.6545 and possibly even closer to 1.6341.
A break below support at 1.6821 will change that count in favor of the above depicted. This count shows that wave i completed the test of 1.7216 and the ongoing correction is a wave ii correction.

Trading recommendation:
We bought EUR at 1.6890 with stop placed at 1.6794. We will take half profit at 1.6910 and half profit again at 1.6955.




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  #299  
Old 07-11-2017, 12:54
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
We continue to look for more downside pressure towards 1.6545 to complete wave ii and set the stage for a new impulsive rally in wave iii towards 1.7770. Short-term resistance is now seen at 1.6760, which ideally will cap the upside for the expected decline to 1.6545

Trading recommendation:
We are short EUR from 1.6790 and we will move our stop lower to 1.6890. Take profit will be placed at 1.6565.




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  #300  
Old 10-11-2017, 12:56
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
Wave II seems to have bottomed already at 1.6614 and wave III ready to develop. We still need a firm break above minor resistance at 1.6813 to confirm this view. Short-term, we ill be looking for support near 1.6690 to protect the downside for the next impulsive rally higher to 1.7216 and above towards 1.7770 in wave iii.
Even if the 1.6614 low is broken again, the downside should be limited to 1.6545 to complete wave ii.

Trading recommendation:
Our stop+reverse at 1.6770 has been hit for a small profit of 20 pips and we are now long EUR at 1.6770 and we will place our stop at 1.6610.




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  #301  
Old 16-11-2017, 20:56
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD is currently testing the previous high at 1.7216. This resistance will likely be able to cap the upside shortly, but it should just be a matter of time before this resistance is broken for a continuation higher towards 1.7770 as the next upside target.
Short-term support is seen at 1.1714 and again at 1.7085. The later is expected to protect the downside of the break above 1.7216.

Trading recommendation:
We are long EUR from 1.6770 with stop placed at 1.6900.




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  #302  
Old 17-11-2017, 19:37
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD continues to rally as expected and has now broken above the form top at 1.7216 as the rally higher towards the next target seen at 1.7770 continues.
Support is now seen at 1.7201 and again at 1.7121. The latter will ideally protect the downside for the expected rally higher towards 1.7770.

Trading recommendation:
We are long EUR from 1.6770 and will move our stop higher to 1.7025.




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  #303  
Old 24-11-2017, 01:37
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
We continue to look for a break below support at 1.7100 to confirm that a deeper correction in wave ii towards 1.6619 is developing. Short-term resistance is seen at 1.7237 and again at 1.7300. The later will ideally cap the upside for the expected break below support at 1.7100.

Trading recommendation:
We are short EUR from 1.7200 with our stop placed at 1.7415.




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  #304  
Old 28-11-2017, 17:30
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
The corrective rally from 1.7134 was stronger than expected but peaked at 1.7393 and renewed downside pressure towards 1.6619 is now expected. A break below support at 1.7134 will confirm the expected decline.
Short-term resistance is seen at 1.7296 that should be able to cap the upside for the break below important support at 1.7134.

Trading recommendation:
We sold EUR at 1.7200 with our stop placed at 1.7415.




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  #305  
Old 01-12-2017, 17:18
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Wave summary:
The break above 1.7393 and 1.7408 has forced us to review our count. This break opens two possible scenarios. The first is that the expected deeper correction from 1.7408 still is alive, but in the shape of an expanded flat correction and if this is the case, then resistance at 1.7458 should be able to cap the upside for a break below 1.7394 and more importantly below 1.7374 that will call for a decline to 1.7035 in wave C.
The other possible scenario indicates more upside towards 1.7988 already is developing and we were blindsided by the correction from 1.7408 and expected it to be deeper than it was. If this scenario is to be preferred a clear break above 1.7458 will be needed.

Trading recommendation:
We will sell EUR at 1.7450 or upon a break below 1.7394 with a stop placed at 1.7485.




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  #306  
Old 04-12-2017, 21:08
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
On Friday, we stated that the break above 1.7408 opened two possible scenarios. The first was that an expanded flat was developing and in this case resistance near 1.7458 should protect the upside. We saw a spike to 1.7479 before a strong decline was seen, and this favor this scenario developing, over the alternate count calling for a direct rally towards 1.7988.

Resistance at 1.7479 should now cap the upside for a break below support at 1.7279 for more downside pressure towards 1.7077 and 1.7035 in wave c of iv before turning higher in wave v towards 1.7988.




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  #307  
Old 07-12-2017, 22:25
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Wave summary:
Once again EUR/NZD failed to break below support seen at 1.7077 (the low was seen at 1.7100). The rally following the 1.7100 low does begin to look constructive, but only a clear break above resistance at 1.7342 will indicate a corrective low already could be in place.
We do think the correction from 1.7409 has been very short both in points and time and would expect a larger correction as wave (4), but it might be that the complexity just is rising.

Trading recommendation:
Our short position from 1.7450 has been stopped at 1.7250 for a 200 pip profit. We will stay neutral for now.




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  #308  
Old 12-12-2017, 11:51
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Wave summary:
EUR/NZD has reached its 1.7000 target and could still move a little lower towards 1.6922 as long as minor resistance at 1.7057 is able to cap the upside. That said, a corrective low should be close at hand for renewed upside pressure towards 1.7480 on the way towards 1.7777.

Trading recommendation:
We are short EUR from 1.7200. We will move our stop lower to 1.7065.




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  #309  
Old 14-12-2017, 16:48
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Wave summary:
EUR/NZD continues to push lower as it failed to break back above minor resistance at 1.6969 (the high was seen at 1.6942, which now acts the minor resistance to break). As long as minor resistance at 1.6942 is able to cap the upside as long will the downside pressure remain, with the possibility of a continuation lower to 1.6720, That said, the decline from 1.7493 is looking tired and a bottom is expected soon.

Trading recommendation:
We are short EUR from 1.7200 and will move our stop lower to 1.6955, Take profit will be placed at 1.6740.




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  #310  
Old 15-12-2017, 14:34
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD spiked higher to 1.6965 before tuning lower again. The failure to sustain the break above 1.6955 calls for more downside pressure towards 1.6720 before a low likely is in place. Short-term minor resistance is seen at 1.6873 and a break above here will be the first warning that a low has been found.

Trading recommendation:
Our stop at 1.6955 was hit for a nice profit of 245 pips. We will be looking for a new buying opportunity and will buy a break above 1.6873.




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  #311  
Old 19-12-2017, 20:15
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Wave summary:
EUR/NZD likely bottomed at 1.6744, just above the expected target at 1.6720. Short-term a break above minor resistance at 1.6939 and more importantly a break above 1.6965 is needed to confirm that wave (iv) has completed and wave (v) higher towards 1.7770 is developing.
As long as resistance at 1.6965 is able to cap the upside, we need to allow a decline closer to 1.6720.

Trading recommendation:
We bought EUR at 1.6873 and will placed our stop at 1.6700.




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  #312  
Old 22-12-2017, 15:33
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Wave summary:
EUR/NZD continues to follow the expected path and with support at 1.6865 tested wave ii should be over soon for a break above minor resistance at 1.6940 for more upside pressure in wave iii towards at least 1.7375 on the way higher to the long-term target near 1.7777.

Trading recommendation:
We are long EUR from 1.6873 with our stop placed at 1.6795.




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  #313  
Old 27-12-2017, 18:28
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Wave summary:
We are looking for a corrective low in wave ii soon. To confirm that wave ii has completed a break above minor resistance at 1.6927 is needed, which will call for a rally towards at least 1.7373 and possibly higher. The long-term target for this rally is seen near 1.7777.

Trading recommendation:
We are long EUR from 1.6873 with stop placed at 1.6795.




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  #314  
Old 28-12-2017, 19:43
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD likely bottomed with the test of 1.6800 and we are now looking for a break above minor resistance at 1.6876 and more importantly a break above resistance at 1.6927 to confirm wave ii has completed and wave iii is developing for a rally towards 1.7777.
At no point can a break below important support at 1.6744 be allowed under this count.

Trading recommendation:
We are long EUR from 1.6873 with stop placed at 1.6795.




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  #315  
Old 02-01-2018, 18:32
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
The break above minor resistance at 1.6925 is not yet convincing, but a more firm break is expected soon for more upside pressure towards 1.7064 on the way higher to 1.7777.
Support is now seen at 1.6837, which is expected to protect the downside for the firm break above 1.6925.

Trading recommendation:
We are EUR 1.6873 with stop placed at 1.6795.




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  #316  
Old 10-01-2018, 04:48
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD has declined nice and is now close to the first support near 1.6571. This support is expected to protect the downside for at least a corrective rally closer to 1.6800 and maybe even turn prices higher trough important resistance at 1.7025 for the next impulsive rally towards 1.7777.

Trading recommendation:
We are short EUR from 1.6795. We will book half profit here at 1.6675 for a nice profit of 120 pips and we will move our stop lower from 1.7085 to 1.6835 on the rest of the position.




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  #317  
Old 11-01-2018, 05:15
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD has tested a low of 1.6587, just above our ideal target seen at 1.6571. This could be enough to fulfill the expected downside target and complete wave (ii). If this is the case, we will likely see minor support at 1.6595 protect the downside for a break above minor resistance at 1.6708 confirming a low is in place for a rally towards important resistance at 1.7026 and above here confirm wave (iii) higher is developing.

Trading recommendation:
We are short half a position EUR from 1.6795 we will lower our stop + revers to 1.6715 and we will place a take profit at 1.6610. If done we will place a EUR buy order at 1.6715.




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  #318  
Old 12-01-2018, 16:26
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Wave summary:
Wave (ii) should be close to completion and set the stage for a strong rally in wave (iii) higher. Short-term the first good indication that wave (ii) has completed, will be a break above minor resistance at 1.6668, while a break above 1.6890 will confirm wave (iii) has take over for a rally to 1.7025 and 1.7479 on the way towards 1.7777.

Trading recommendation:
We will buy a break above 1.6668 and place our stop at 1.6515.




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  #319  
Old 18-01-2018, 15:20
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
EUR/NZD continues to follow the expected path. After wave i peaked at 1.6937 a corrective decline in wave ii has begun unfolding. This wave ii corrections will likely test the 61.8% corrective target of wave i at 1.6678 before turning higher in wave iii towards 1.7360 on the way higher to 1.7777.
Short-term, we expect minor resistance at 1.6839 to cap the upside for the final dip to 1.6678 and then strongly higher.

Trading recommendation.
We closed the final 50% long EUR position at 1.6845 for a nice profit of 175 pips. A we will re-buy EUR at 1.6695 or upon a break above 1.6845.




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Old 19-01-2018, 11:37
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Default Re: Daily technical analysis of EUR/NZD By INSTAFOREX

Wave summary:
The corrective decline from 1.6937 is unfolding as expected and should spike lower to 1.6679 before completing and set the stage for the next impulsive rally higher towards 1.7360 on the way higher to 1.7777.
Only a direct break above minor resistance at 1.6839 will tell us that wave ii ended early and wave iii higher to 1.7360 is developing.

Trading recommendation:
We will buy EUR at 1.6695 or upon a break above 1.6845.




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