Elliott wave analysis of EUR/NZD for April 18, 2017
April 18, 2017 5:15 am
Wave summary:
As long as minor resistance at 1.5207 and more importantly as long as resistance at 1.5347 is able to cap the upside, we will be looking for a final decline into the 1.4874 – 1.4990 area to complete the correction in wave ii and be setting the stage for a strong rally in wave iii higher towards 1.5838 and above.
R3: 1.5347
R2: 1.5265
R1: 1.5208
Pivot: 1.5200
S1: 1.5145
S2: 1.5055
S3: 1.4990
Trading recommendation:
We will only buy EUR at 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:
As long as minor resistance at 1.5207 and more importantly as long as resistance at 1.5347 is able to cap the upside, we will be looking for a final decline into the 1.4874 – 1.4990 area to complete the correction in wave ii and be setting the stage for a strong rally in wave iii higher towards 1.5838 and above.
R3: 1.5347
R2: 1.5265
R1: 1.5208
Pivot: 1.5200
S1: 1.5145
S2: 1.5055
S3: 1.4990
Trading recommendation:
We will only buy EUR at 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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