Elliott wave analysis of EUR/NZD for June 12, 2017
June 12, 2017 6:55 am
Wave summary:
We continue to look for confirmation that the wave ii has completed in form of a break above the resistance line near 1.5685 and more importantly a break above resistance at 1.5720. Once this resistance is broken, renewed upside pressure will be expected towards 1.6002 on the way higher to 1.6655.
R3: 1.5931
R2: 1.5796
R1: 1.5671
Pivot: 1.5600
S1: 1.5491
S2: 1.5439
S3: 1.5369
Trading recommendation:
We are long EUR from 1.5540 with stop placed at 1.5340. If you are not long EUR yet, then buy upon a break above 1.5671 and place stop at 1.5430.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to look for confirmation that the wave ii has completed in form of a break above the resistance line near 1.5685 and more importantly a break above resistance at 1.5720. Once this resistance is broken, renewed upside pressure will be expected towards 1.6002 on the way higher to 1.6655.
R3: 1.5931
R2: 1.5796
R1: 1.5671
Pivot: 1.5600
S1: 1.5491
S2: 1.5439
S3: 1.5369
Trading recommendation:
We are long EUR from 1.5540 with stop placed at 1.5340. If you are not long EUR yet, then buy upon a break above 1.5671 and place stop at 1.5430.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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