Elliott wave analysis of EUR/NZD for March 27, 2017
March 27, 2017 9:47 am
Wave summary:
The triangle consolidation in wave [iv] should be close to completion for a rally above 1.5441 confirming more upside pressure towards 1.5764 in wave [v]. Only form this higher should a larger correction towards 1.5440 and maybe even closer to 1.5310 be expected.
R3: 1.5537
R2: 1.5460
R1: 1.5441
Pivot: 1.5400
S1: 1.5285
S2: 1.5263
S3: 1.5230
Trading recommendation:
We are long EUR from 1.5170 with stop placed at 1.5160. If you are not long yet, a minor position could be taken upon a break above 1.5441 for a rally to 1.5764. Place you stop at 1.5325.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
The triangle consolidation in wave [iv] should be close to completion for a rally above 1.5441 confirming more upside pressure towards 1.5764 in wave [v]. Only form this higher should a larger correction towards 1.5440 and maybe even closer to 1.5310 be expected.
R3: 1.5537
R2: 1.5460
R1: 1.5441
Pivot: 1.5400
S1: 1.5285
S2: 1.5263
S3: 1.5230
Trading recommendation:
We are long EUR from 1.5170 with stop placed at 1.5160. If you are not long yet, a minor position could be taken upon a break above 1.5441 for a rally to 1.5764. Place you stop at 1.5325.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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