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EUR/NZD — Daily

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EUR/NZD – 4-hour chart

Wave summary:

Wave [iii] continues to extend and could still make it slightly higher towards 1.5512 before wave [iii] is complete and a correction in wave [iv] takes over for a decline towards 1.5137 with an outside possibility for a deeper correction to 1.5012.

Short term, a break below minor support seen at 1.5276 will indicate that wave [iii] has completed and wave [iv] is unfolding.

R3: 1.5659

R2: 1.5519

R1: 1.5456

Pivot: 1.5395

S1: 1.5276

S2: 1.5190

S3: 1.5137

Trading recommendation:

We will buy EUR at 1.5145.

The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com

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