Elliott wave analysis of EUR/NZD for March 22, 2017
March 22, 2017 9:13 am
Wave summary:
We continue to look for more upside pressure in wave [v] closer to at least 1.5537 and possibly even closer to 1.5764 before the first impulsive rally from 1.4495 is complete and a larger correction of the rally from 1.4495 to ? takes over.
Short-term, we expect minor support at 1.5273 to be able to protect the downside for a break above 1.5441 confirming more upside towards at least 1.5537.
R3: 1.5764
R2: 1.5537
R1: 1.5441
Pivot: 1.5350
S1: 1.5273
S2: 1.5225
S3: 1.5170
Trading recommendation:
We are long EUR from 1.5170 and with stop placed at 1.5160.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to look for more upside pressure in wave [v] closer to at least 1.5537 and possibly even closer to 1.5764 before the first impulsive rally from 1.4495 is complete and a larger correction of the rally from 1.4495 to ? takes over.
Short-term, we expect minor support at 1.5273 to be able to protect the downside for a break above 1.5441 confirming more upside towards at least 1.5537.
R3: 1.5764
R2: 1.5537
R1: 1.5441
Pivot: 1.5350
S1: 1.5273
S2: 1.5225
S3: 1.5170
Trading recommendation:
We are long EUR from 1.5170 and with stop placed at 1.5160.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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