Elliott wave analysis of EUR/NZD for March 2, 2017
March 2, 2017 3:55 pm
Wave summary:
EUR/NZD is currently at a very important juncture. A break above resistance seen at 1.4867 will confirm that a long-term low is in place with the test of 1.4495 and a new long-term impulsive rally is developing. The first upside target upon a break above 1.4867 is seen near 1.5282 and then 1.5516 on the way higher to 1.5836.
Support is now seen at 1.4677, which ideally will protect the downside.
R3: 1.5193
R2: 1.4954
R1: 1.4867
Pivot: 1.4860
S1: 1.4677
S2: 1.4629
S3: 1.4554
Trading recommendation:
We are long EUR from 1.4840 with stop placed at 1.4490. If you are not long EUR yet, then buy a break above 1.4867 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
EUR/NZD is currently at a very important juncture. A break above resistance seen at 1.4867 will confirm that a long-term low is in place with the test of 1.4495 and a new long-term impulsive rally is developing. The first upside target upon a break above 1.4867 is seen near 1.5282 and then 1.5516 on the way higher to 1.5836.
Support is now seen at 1.4677, which ideally will protect the downside.
R3: 1.5193
R2: 1.4954
R1: 1.4867
Pivot: 1.4860
S1: 1.4677
S2: 1.4629
S3: 1.4554
Trading recommendation:
We are long EUR from 1.4840 with stop placed at 1.4490. If you are not long EUR yet, then buy a break above 1.4867 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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