Elliott wave analysis of EUR/NZD for March 10, 2017
March 10, 2017 5:30 am
Wave summary:
The break above 1.5286 could extend wave [iii] higher to 1.5512, but the rally in wave [iii] from 1.4554 looks quite extended and a correction towards 1.5049 in wave [iv] will not come as any surprise. That said it is important to remember that much more upside pressure is expected in the long term, as we only are in the early parts of wave 3 higher.
R3: 1.5660
R2: 1.5512
R1: 1.5454
Pivot: 1-5340
S1: 1.5223
S2: 1.5135
S3: 1.5049
Trading recommendation:
We look for a possibility to buy EUR near 1.5049.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
The break above 1.5286 could extend wave [iii] higher to 1.5512, but the rally in wave [iii] from 1.4554 looks quite extended and a correction towards 1.5049 in wave [iv] will not come as any surprise. That said it is important to remember that much more upside pressure is expected in the long term, as we only are in the early parts of wave 3 higher.
R3: 1.5660
R2: 1.5512
R1: 1.5454
Pivot: 1-5340
S1: 1.5223
S2: 1.5135
S3: 1.5049
Trading recommendation:
We look for a possibility to buy EUR near 1.5049.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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