Elliott wave analysis of EUR/NZD for March 1, 2018
March 1, 2018 7:21 am
Wave summary:
EUR/NZD continues to move higher as expected, but we would like to see some upside acceleration soon and a break above the minor resistance at 1.6999, and more importantly, a break above the resistance at 1.7094 that confirms our expectation of a continuation higher to 1.7470 and 1.7777.
Support is now seen at 1.6867. This support will ideally protect the downside for a continuation higher to 1.6999 and above.
R3: 1.7102
R2: 1.6999
R1: 1.6960
Pivot: 1.6896
S1: 1.6867
S2: 1.6840
S3: 1.6806
Trading recommendation:
We are long EUR from 1.6790 and we will move our stop to break-even at 1.6790.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
EUR/NZD continues to move higher as expected, but we would like to see some upside acceleration soon and a break above the minor resistance at 1.6999, and more importantly, a break above the resistance at 1.7094 that confirms our expectation of a continuation higher to 1.7470 and 1.7777.
Support is now seen at 1.6867. This support will ideally protect the downside for a continuation higher to 1.6999 and above.
R3: 1.7102
R2: 1.6999
R1: 1.6960
Pivot: 1.6896
S1: 1.6867
S2: 1.6840
S3: 1.6806
Trading recommendation:
We are long EUR from 1.6790 and we will move our stop to break-even at 1.6790.
The material has been provided by InstaForex Company – www.instaforex.com
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