Elliott wave analysis of EUR/NZD for April 17, 2017
April 17, 2017 11:27 am
Wave summary:
The break below minor support at 1.5149 has changed the short-term count slightly. This new count sees wave i complete with the test of 1.5486 and the current decline is wave ii towards the 1.4874 – 1.4990 area before completing and pushing higher in wave iii.
Only a break above minor resistance at 1.5347 confirms that wave ii has completed and wave iii higher is unfolding.
R3: 1.5347
R2: 1.5265
S1: 1.5208
Pivot: 1.5200
S1: 1.5145
S2: 1.5055
S3: 1..4990
Trading recommendation:
We are looking for a EUR buying opportunity near 1.4885 or upon a break above 1.5347.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
The break below minor support at 1.5149 has changed the short-term count slightly. This new count sees wave i complete with the test of 1.5486 and the current decline is wave ii towards the 1.4874 – 1.4990 area before completing and pushing higher in wave iii.
Only a break above minor resistance at 1.5347 confirms that wave ii has completed and wave iii higher is unfolding.
R3: 1.5347
R2: 1.5265
S1: 1.5208
Pivot: 1.5200
S1: 1.5145
S2: 1.5055
S3: 1..4990
Trading recommendation:
We are looking for a EUR buying opportunity near 1.4885 or upon a break above 1.5347.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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