Elliott wave analysis of EUR/NZD for February 27, 2017
February 27, 2017 2:08 pm
Wave summary:
There really is much news to add here. We are still looking for a break above important short-term resistance, seen at 1.4866 that will confirm that a low is in place, with the test of 1.4495 and a new long-term impulsive rally is developing for a rally towards 1.5282 and higher towards 1.5836 as the next upside targets.
Short-term support is seen at 1.4554, which ideally will protect the downside for the expected break above 1.4866.
R3: 1.4866
R2: 1.4805
R1: 1.4751
Pivot: 1.4705
S1: 1.4609
S2: 1.4554
S3: 1.4495
Trading recommendation:
Buy a break above resistance seen at 1.4866 and place stop at 1.4490.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
There really is much news to add here. We are still looking for a break above important short-term resistance, seen at 1.4866 that will confirm that a low is in place, with the test of 1.4495 and a new long-term impulsive rally is developing for a rally towards 1.5282 and higher towards 1.5836 as the next upside targets.
Short-term support is seen at 1.4554, which ideally will protect the downside for the expected break above 1.4866.
R3: 1.4866
R2: 1.4805
R1: 1.4751
Pivot: 1.4705
S1: 1.4609
S2: 1.4554
S3: 1.4495
Trading recommendation:
Buy a break above resistance seen at 1.4866 and place stop at 1.4490.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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