Elliott wave analysis of EUR/NZD for August 2, 2017
August 2, 2017 5:07 amVideo
Latest News
- Slightly lower volatility across the board ahead of key US data – Volatility Watch April 23, 2024
- Technical Analysis – UK 100 index hits new all-time highs but rally may be cooling April 23, 2024
- XM Teams up with ‘Charity Right’ for Change April 23, 2024
- Technical Analysis – US 500 index rebounds off 2-month low below 5,000 April 23, 2024
- Technical Analysis – Is Tesla’s bearish spiral about to end soon? April 23, 2024
- Forex forecast 04/23/2024: EUR/USD, GBP/USD, Oil, SP500 and Bitcoin from Sebastian Seliga April 23, 2024
- USD/JPY: trading tips for beginners for European session on April 23 April 23, 2024
- GBP/USD: trading tips for beginners for European session on April 23 April 23, 2024
- EUR/USD: trading tips for beginners for European session on April 23 April 23, 2024
- Market Comment – Dollar pulls back, but yen hits new 34-year low April 23, 2024
- What do the smaller US surveys say about the US economy? – Special Report April 23, 2024
- Technical Analysis – NZDUSD bounces off a 5-month low April 23, 2024
- Hot forecast for EUR//USD on April 23, 2024 April 23, 2024
- Microsoft reports earnings as AI wars intensify – Stock markets April 23, 2024
- Technical Analysis – Is gold ready for bearish correction? April 23, 2024
- XM and Singapore Red Cross: Stronger Together April 23, 2024
- Technical Analysis of Intraday Price Movement of Natural Gas Commodity Asset, Tuesday April 23, 2024. April 23, 2024
- Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday April 23, 2024. April 23, 2024
- Key events on April 23: fundamental analysis for beginners April 23, 2024
- EUR/USD and GBP/USD: Technical analysis on April 23 April 23, 2024
Wave summary:
EUR/NZD is rallying nicely and has now cleared minor resistance at 1.5897, too. This confirms continuation higher towards 1.6236 as the next upside target. However, longer term, we expected EUR/NZD to move way past the 1.6236 target, too.
Support is now seen at 1.5880 and again at 1.5829. The later should be able to protect the downside as EUR/NZD accelerates higher.
R3: 1.6006
R2: 1.5980
R1: 1.5930
Pivot: 1.5900
S1: 1.5880
S2: 1.5829
S3: 1.5779
Trading recommendation:
We are long EUR from 1.5510. We will raise our stop higher to 1.5750. If you are not long EUR yet, then buy near 1.5830 and use the same stop at 1.5750.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: