Elliott wave analysis of EUR/NZD for February 8, 2018
February 8, 2018 6:21 am
Wave summary:
There was no time for a deeper corrective decline in the wave ii. After the direct break above 1.6976 we are looking for a direct break above the resistance at 1.7101 that confirms a continuation higher towards 1.7479 on the way higher to 1.7777.
Support is now seen at 1.6976 and again at 1.6913.
R3: 1.7124
R2: 1.7101
R1: 1.7076
Pivot: 1.6990
S1: 1.6976
S2: 1.6913
S3: 1.6852
Trading recommendation:
We bought EUR at 1.6977 and placed our stop at 1.6845.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
There was no time for a deeper corrective decline in the wave ii. After the direct break above 1.6976 we are looking for a direct break above the resistance at 1.7101 that confirms a continuation higher towards 1.7479 on the way higher to 1.7777.
Support is now seen at 1.6976 and again at 1.6913.
R3: 1.7124
R2: 1.7101
R1: 1.7076
Pivot: 1.6990
S1: 1.6976
S2: 1.6913
S3: 1.6852
Trading recommendation:
We bought EUR at 1.6977 and placed our stop at 1.6845.
The material has been provided by InstaForex Company – www.instaforex.com
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