Elliott wave analysis of EUR/NZD for April 11, 2017
April 11, 2017 7:34 am
Wave summary:
EUR/NZD is doing nothing at the moment. It continues to trade within a narrow range between 1.5165 – 1.5338, but we need a break above 1.5347 to confirm that the next impulsive rally higher towards 1.5570 and likely even closer to 1.5790 is unfolding.
Support at 1.5151 should continue to protect the downside.
R3: 1.5347
R2: 1.5312
R2: 1.5280
Pivot: 1.5230
S1: 1.5180
S2: 1.5165
S3: 1.5151
Trading recommendation:
We are long EUR from 1.5235 with stop placed at 1.5050. If you are not long EUR yet, then buy a break above 1.5347 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
EUR/NZD is doing nothing at the moment. It continues to trade within a narrow range between 1.5165 – 1.5338, but we need a break above 1.5347 to confirm that the next impulsive rally higher towards 1.5570 and likely even closer to 1.5790 is unfolding.
Support at 1.5151 should continue to protect the downside.
R3: 1.5347
R2: 1.5312
R2: 1.5280
Pivot: 1.5230
S1: 1.5180
S2: 1.5165
S3: 1.5151
Trading recommendation:
We are long EUR from 1.5235 with stop placed at 1.5050. If you are not long EUR yet, then buy a break above 1.5347 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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