Elliott wave analysis of EUR/NZD for October 15, 2018
October 15, 2018 7:23 am
EUR/NZD has made a new corrective low at 1.7704, which indicates a more complex correction in blue wave ii is developing towards support at 1.7649 from where a new impulsive rally towards 1.8030 and 1.8369 is expected.
Only a break above 1.7842 will indicate that the correction in blue wave ii has completed and blue wave iii is developing.
R3: 1.7882
R2: 1.7841
R1: 1.7801
Pivot: 1.7780
S1: 1.7745
S2: 1.7704
S3: 1.7649
Trading recommendation:
We will buy EUR at 1.7655 or upon a break above 1.7841. We will place our stop at 1.7600.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/NZD has made a new corrective low at 1.7704, which indicates a more complex correction in blue wave ii is developing towards support at 1.7649 from where a new impulsive rally towards 1.8030 and 1.8369 is expected.
Only a break above 1.7842 will indicate that the correction in blue wave ii has completed and blue wave iii is developing.
R3: 1.7882
R2: 1.7841
R1: 1.7801
Pivot: 1.7780
S1: 1.7745
S2: 1.7704
S3: 1.7649
Trading recommendation:
We will buy EUR at 1.7655 or upon a break above 1.7841. We will place our stop at 1.7600.
The material has been provided by InstaForex Company – www.instaforex.com
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