Elliott wave analysis of EUR/NZD for January 31, 2018
January 31, 2018 6:21 am
Wave summary:
EUR/NZD continues to follow the expected path to perfection. We expect that a minor support at 1.6803 will be able to protect the downside for a new impulsive rally above 1.6973 confirming more upside pressure towards 1.7065 on the way higher to 1.7360 and 1.7479.
It will take an unexpected break below support at 1.6630 to invalidate our bullish count.
R3: 1.7065
R2: 1.6961
R1: 1.6925
Pivot.: 1.6880
S1: 1.6803
S2: 1.6766
S3: 1.6720
Trading recommendation:
We are long EUR from 1.6695 with stop placed at break-even.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
EUR/NZD continues to follow the expected path to perfection. We expect that a minor support at 1.6803 will be able to protect the downside for a new impulsive rally above 1.6973 confirming more upside pressure towards 1.7065 on the way higher to 1.7360 and 1.7479.
It will take an unexpected break below support at 1.6630 to invalidate our bullish count.
R3: 1.7065
R2: 1.6961
R1: 1.6925
Pivot.: 1.6880
S1: 1.6803
S2: 1.6766
S3: 1.6720
Trading recommendation:
We are long EUR from 1.6695 with stop placed at break-even.
The material has been provided by InstaForex Company – www.instaforex.com
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