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Elliott Wave Analysis of EUR/NZD for September 19, 2017

Posted On 19 Sep 2017
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Wave summary:

We missed our buying opportunity at 1.6250 by only 18 pips. A break above minor resistance at 1.6523 is still needed to confirm that red wave iv has completed, but it is likely to be a question of time before this break is seen and confirms continuation higher towards 1.6763 and possibly even higher to 1.7107.

R3: 1.6633

R2: 1.6570

R1: 1.6523

Pivot: 1.6500

S1: 1.6437

S2: 1.6394

S3: 1.6350

Trading recommendation:

We are looking for a buying opportunity at 1.6355 or upon a break above 1.6523. Stop loss will be placed at 1.6255.

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

Source:: Elliott Wave Analysis of EUR/NZD for September 19, 2017

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