Elliott wave analysis of EUR/NZD for December 6, 2017
December 6, 2017 1:21 pm
Wave summary:
We continue to look for more downside pressure towards at least 1.7077 and 1.7035 as the next downside targets. Support is now seen at 1.7215 and again at 1.7243. The latter is expected to be able to cap the upside for more downside pressure towards 1.7077 and below.
R3: 1.7318
R2: 1.7243
R1: 1.7215
Pivot: 1.7140
S1: 1.7099
S2: 1.7077
S3: 1.7035
Trading recommendation:
We sold EUR at 1.7450 and will move our stop lower to 1.7250. Take profit remains at 1.7050.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
We continue to look for more downside pressure towards at least 1.7077 and 1.7035 as the next downside targets. Support is now seen at 1.7215 and again at 1.7243. The latter is expected to be able to cap the upside for more downside pressure towards 1.7077 and below.
R3: 1.7318
R2: 1.7243
R1: 1.7215
Pivot: 1.7140
S1: 1.7099
S2: 1.7077
S3: 1.7035
Trading recommendation:
We sold EUR at 1.7450 and will move our stop lower to 1.7250. Take profit remains at 1.7050.
The material has been provided by InstaForex Company – www.instaforex.com
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