Elliott wave analysis of EUR/NZD for March 23 – 2017
March 23, 2017 4:04 pm
Wave summary:
The correction in wave [iv] drags out in time, indicating that a triangle consolidation could be unfolding. That does not alter the expectation of a rally higher towards at least 1.5537 and more likely even closer to 1.5764 to complete wave [v] and wave i.
R3: 1.5441
R2: 1.5382
R1: 1.5320
Pivot: 1.5300
S1: 1.5263
S2: 1.5230
S3: 1.5175
Trading recommendation:
We are long EUR from 1.5170 with stop placed at 1.5160.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
The correction in wave [iv] drags out in time, indicating that a triangle consolidation could be unfolding. That does not alter the expectation of a rally higher towards at least 1.5537 and more likely even closer to 1.5764 to complete wave [v] and wave i.
R3: 1.5441
R2: 1.5382
R1: 1.5320
Pivot: 1.5300
S1: 1.5263
S2: 1.5230
S3: 1.5175
Trading recommendation:
We are long EUR from 1.5170 with stop placed at 1.5160.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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