Elliott wave analysis of EUR/NZD for February 27, 2018

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Wave summary:

EUR/NZD has rallied nicely and is headed towards the first more substantial resistance near 1.7100. Once this resistance is cleared, the way higher to 1.7470 and 1.7777 is open.

Support is now seen at 1.6850, and the important support is seen at 1.6780.

R3: 1.7094

R2: 1.6990

R1: 1.6937

Pivot: 1.6887

S1: 1.6850

S2: 1.6780

S3: 1.6723

Trading recommendation:

We are long EUR from 1.6790, and we will move our stop higher to 1.6775.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Elliott wave analysis of EUR/NZD for February 27, 2018

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