Elliott wave analysis of EUR/NZD for October 23, 2017
October 23, 2017 7:23 am
Wave summary:
We continue to look for more upside pressure towards 1.7208 and above here, will confirm continuation higher towards 1.8000. Short-term support is seen at 1.6816, which ideally will protect the downside for the expected rally higher to 1.7208 and above.
That said, the minor correction from 1.6593 could extend closer to 1.6745 before moving higher again.
R3: 1.7030
R2: 1.7000
R1: 1.6969
Pivot: 1.6950
S1: 1.6870
S2: 1.6836
S3: 1.6816
Trading recommendation:
WE will buy EUR at 1.6840 or upon a break above 1.6960.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
We continue to look for more upside pressure towards 1.7208 and above here, will confirm continuation higher towards 1.8000. Short-term support is seen at 1.6816, which ideally will protect the downside for the expected rally higher to 1.7208 and above.
That said, the minor correction from 1.6593 could extend closer to 1.6745 before moving higher again.
R3: 1.7030
R2: 1.7000
R1: 1.6969
Pivot: 1.6950
S1: 1.6870
S2: 1.6836
S3: 1.6816
Trading recommendation:
WE will buy EUR at 1.6840 or upon a break above 1.6960.
The material has been provided by InstaForex Company – www.instaforex.com
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