Elliott wave analysis of EUR/NZD for June 13, 2017
June 13, 2017 5:11 am
Wave summary:
We continue to look for confirmation that the corrective decline from 1.6237 has completed. The first strong indication will be a break above the resistance line seen at 1.5636, while a break above resistance at 1.5720 will add confidence in wave iii/ developing towards 1.6655.
R3: 1.5931
R2: 1.5720
R1: 1.5636
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 a break above 1.5636 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to look for confirmation that the corrective decline from 1.6237 has completed. The first strong indication will be a break above the resistance line seen at 1.5636, while a break above resistance at 1.5720 will add confidence in wave iii/ developing towards 1.6655.
R3: 1.5931
R2: 1.5720
R1: 1.5636
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 a break above 1.5636 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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