Elliott wave analysis of EUR/NZD for February 2, 2018
February 2, 2018 6:22 am
Wave summary:
The EUR/NZD pair continue to follow the expected path, and a break above minor resistance at 1.6973 will confirm more upside pressure towards 1.7360 on the way higher to 1.7479 and 1.7777, which is our long-term target.
Short-term support is now seen at 1.6926 and at 1.6890 again, which should be able to protect the downside.
R3: 1.7064
R2: 1.7013
R1: 1.6973
Pivot: 1.6936
S1: 1.6890
S2: 1.6866
S3: 1.6827
Trading recommendation:
We are long EUR from 1.6695 and will move our stop higher to 1.6750.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
The EUR/NZD pair continue to follow the expected path, and a break above minor resistance at 1.6973 will confirm more upside pressure towards 1.7360 on the way higher to 1.7479 and 1.7777, which is our long-term target.
Short-term support is now seen at 1.6926 and at 1.6890 again, which should be able to protect the downside.
R3: 1.7064
R2: 1.7013
R1: 1.6973
Pivot: 1.6936
S1: 1.6890
S2: 1.6866
S3: 1.6827
Trading recommendation:
We are long EUR from 1.6695 and will move our stop higher to 1.6750.
The material has been provided by InstaForex Company – www.instaforex.com
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