Elliott wave analysis of EUR/NZD for April 26, 2018
April 26, 2018 6:24 am
EUR/NZD has now entered the target-area between 1.7217 – 1.7264 and wave i could peak anytime now for a corrective decline in wave ii towards at least 1.7037.
Short-term a break below minor support at 1.7181 will indicate that wave i has peaked and wave ii is developing, while a break below support at 1.7124 will confirm wave ii is developing.
Longer term much more upside remains expected here, with the next long-term target seen at 1.7479 on the way higher to 1.8473.
R3: 1.7344
R2: 1.7300
R1: 1.7265
Pivot: 1.7181
S1: 1.7124
S2: 1.7037
S3: 1.6998
Trading recommendation:
We are short EUR from 1.7165 with our stop placed at 1.7270.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/NZD has now entered the target-area between 1.7217 – 1.7264 and wave i could peak anytime now for a corrective decline in wave ii towards at least 1.7037.
Short-term a break below minor support at 1.7181 will indicate that wave i has peaked and wave ii is developing, while a break below support at 1.7124 will confirm wave ii is developing.
Longer term much more upside remains expected here, with the next long-term target seen at 1.7479 on the way higher to 1.8473.
R3: 1.7344
R2: 1.7300
R1: 1.7265
Pivot: 1.7181
S1: 1.7124
S2: 1.7037
S3: 1.6998
Trading recommendation:
We are short EUR from 1.7165 with our stop placed at 1.7270.
The material has been provided by InstaForex Company – www.instaforex.com
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