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  #1  
Old 31-07-2015, 05:37 AM
painofhell painofhell is offline
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Default 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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  #2  
Old 15-08-2015, 05:02 AM
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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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  #3  
Old 28-08-2015, 04:33 AM
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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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  #4  
Old 02-09-2015, 06:22 AM
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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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  #5  
Old 03-09-2015, 04:28 AM
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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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  #6  
Old 05-09-2015, 03:48 AM
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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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  #7  
Old 08-10-2015, 06:10 PM
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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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  #8  
Old 09-10-2015, 03:26 PM
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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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  #9  
Old 14-10-2015, 06:26 PM
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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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  #10  
Old 15-10-2015, 08:04 PM
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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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