EUR/NZD continues to gain a little, but we are still not seeing the expected acceleration, which is a bit of a concern. That said, we will continue to look for more upside and ideally acceleration higher towards 1.6655 as long as minor support at 1.5987 is able to protect the downside. A break below 1.5987 will delay the expected upside pressure, but likely only for a test of 1.5836 before pushing higher again.
R3: 1.6445
R2: 1.6354
R1: 1.6237
Pivot: 1.6150
S1: 1.6086
S2: 1.5987
S3: 1.5908
Trading recommendation:
We are long EUR from 1.5665 with stop placed at 1.5800. If you are not long EUR yet, then buy near 1.5987 and use the same stop at 1.5800.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
EUR/NZD continues to gain a little, but we are still not seeing the expected acceleration, which is a bit of a concern. That said, we will continue to look for more upside and ideally acceleration higher towards 1.6655 as long as minor support at 1.5987 is able to protect the downside. A break below 1.5987 will delay the expected upside pressure, but likely only for a test of 1.5836 before pushing higher again.
R3: 1.6445
R2: 1.6354
R1: 1.6237
Pivot: 1.6150
S1: 1.6086
S2: 1.5987
S3: 1.5908
Trading recommendation:
We are long EUR from 1.5665 with stop placed at 1.5800. If you are not long EUR yet, then buy near 1.5987 and use the same stop at 1.5800.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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