Elliott wave analysis of EUR/NZD for April 4, 2017
April 4, 2017 1:20 pm
Wave summary:
Currently we are looking for a break above minor resistance seen at 1.5347 as confirmation that wave [iv] has completed with the test of 1.5149 and a new impulsive rally now is unfolding in wave [v] towards at least 1.5570 and likely even closer to 1.5797 as the ideal upside target.
R3: 1.5456
R2: 1.5347
R1: 1.5317
Pivot: 1.5250
S1: 1.5210
S2: 1.5149
S3: 1.5110
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 1.5310 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
Currently we are looking for a break above minor resistance seen at 1.5347 as confirmation that wave [iv] has completed with the test of 1.5149 and a new impulsive rally now is unfolding in wave [v] towards at least 1.5570 and likely even closer to 1.5797 as the ideal upside target.
R3: 1.5456
R2: 1.5347
R1: 1.5317
Pivot: 1.5250
S1: 1.5210
S2: 1.5149
S3: 1.5110
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 1.5310 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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