EURNZD - Elliott Wave Analysis for September 11 - 2012
Today's Support and Resistance Levels:
S1: 1.5710 R1: 1.5778
S2: 1.5689 R2: 1.5814
S3: 1.5667 R3: 1.5874
Technical Overview:
Not much has happened here. Green wave iv is still in progress. We are looking for green wave iv to ideally end at 1.5667 and take from there of in green wave v towards 1.5974. As we are entering the final series of waves four's and five's, the picture will likely be somewhat messy, but in overall we expect the first rally from 1.4968 to end near 1.6200. However, in the larger picture we should see much higher levels in longer-term.
Trading Recommendation:
We are still looking for buying EUR against NZD at 1.5675 with a 1.5580 stop and take profit at 1.6185.
Source: InstaForex
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