Elliott wave analysis of EUR/NZD for June 14, 2017
June 14, 2017 6:18 am
Wave summary:
We are looking for a corrective low near 1.5439 for a break above minor resistance at 1.5633 and more importantly a break above 1.5720 that confirms the corrective low is in place for the next impulsive rally higher in wave iii/ towards 1.6655.
As long as minor resistance at 1.5633 is able to cap the upside, we must allow for a dip slightly below 1.5439, but the downside potential should be limited from here.
R3: 1.5931
R2: 1.5720
R1: 1.5633
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 1.5633 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We are looking for a corrective low near 1.5439 for a break above minor resistance at 1.5633 and more importantly a break above 1.5720 that confirms the corrective low is in place for the next impulsive rally higher in wave iii/ towards 1.6655.
As long as minor resistance at 1.5633 is able to cap the upside, we must allow for a dip slightly below 1.5439, but the downside potential should be limited from here.
R3: 1.5931
R2: 1.5720
R1: 1.5633
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 1.5633 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: