Elliott wave analysis of EUR/NZD for March 28, 2017
March 28, 2017 7:28 am
Wave summary:
The triangle consolidation completed with the test of 1.5305 and wave [v] higher towards 1.5554 and likely even closer to 1.5780 and now is unfolding to complete wave (i). Once this wave is complete, a correction in wave (ii) closer to 1.5160 should be expected before higher again.
In the long term much more upside pressure is expected here to above 1.9023.
R3: 1.5780
R2: 1.5667
R1: 1.5554
Pivot: 1.5470
S1: 1.5440
S2: 1.5364
S3: 1.5305
Trading recommendation:
We are long EUR from 1.5170 and will move our stop higher to 1.5360. Take profit is placed at 1.5750.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
The triangle consolidation completed with the test of 1.5305 and wave [v] higher towards 1.5554 and likely even closer to 1.5780 and now is unfolding to complete wave (i). Once this wave is complete, a correction in wave (ii) closer to 1.5160 should be expected before higher again.
In the long term much more upside pressure is expected here to above 1.9023.
R3: 1.5780
R2: 1.5667
R1: 1.5554
Pivot: 1.5470
S1: 1.5440
S2: 1.5364
S3: 1.5305
Trading recommendation:
We are long EUR from 1.5170 and will move our stop higher to 1.5360. Take profit is placed at 1.5750.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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