Elliott wave analysis of EUR/NZD for April 7, 2017
April 7, 2017 12:35 pm
Wave summary:
We continue to expect support seen at 1.5149. It will be able to protect the downside for a break above minor resistance seen at 1.5347, which will confirm that wave [v] higher towards 1.5570 and likely even closer to 1.5790 to complete the first impulsive rally from 1.4495.
R3: 1.5458
R2: 1.5385
R1: 1.5347
Pivot: 1.5250
S1: 1.5235
S2: 1.5210
S3: 1.5149
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.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to expect support seen at 1.5149. It will be able to protect the downside for a break above minor resistance seen at 1.5347, which will confirm that wave [v] higher towards 1.5570 and likely even closer to 1.5790 to complete the first impulsive rally from 1.4495.
R3: 1.5458
R2: 1.5385
R1: 1.5347
Pivot: 1.5250
S1: 1.5235
S2: 1.5210
S3: 1.5149
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.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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