Elliott wave analysis of EUR/NZD for April 25, 2018
April 25, 2018 6:22 am
Sub-wave v/ of wave i is extending and could move higher to 1.7265 before peaking and setting the stage for a correction in wave ii. This wave ii correction is expected to decline to at least 1.7015 and likely even closer to the 50% corrective target at 1.6967.
In the short-term, a break below minor support at 1.7165 will indicate, that the wave i has peaked and the wave ii is developing.
R3: 1.7344
R2: 1.7265
R1: 1.7217
Pivot: 1.7165
S1: 1.7124
S2: 1.7059
S3: 1.6998
Trading recommendation:
We sold EUR at 1.7165 with our stop placed at 1.7270.
The material has been provided by InstaForex Company – www.instaforex.com
Sub-wave v/ of wave i is extending and could move higher to 1.7265 before peaking and setting the stage for a correction in wave ii. This wave ii correction is expected to decline to at least 1.7015 and likely even closer to the 50% corrective target at 1.6967.
In the short-term, a break below minor support at 1.7165 will indicate, that the wave i has peaked and the wave ii is developing.
R3: 1.7344
R2: 1.7265
R1: 1.7217
Pivot: 1.7165
S1: 1.7124
S2: 1.7059
S3: 1.6998
Trading recommendation:
We sold EUR at 1.7165 with our stop placed at 1.7270.
The material has been provided by InstaForex Company – www.instaforex.com
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