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Elliott wave analysis of EUR/NZD for April 24, 2018

Posted On 24 Apr 2018
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EUR/NZD has spiked higher to resistance at 1.7160. This resistance will ideally halt the rise from 1.6671 for a correction to at least 1.6974 and maybe even closer to the 61.8% corrective target at 1.6858 before starting to move higher again towards 1.7479 on the way towards 1.7920.

R3: 1.7265

R2: 1.7220

R1: 1.7160

Pivot: 1.7140

S1: 1.7114

S2: 1.7080

S3: 1.7050

Trading recommendation:

We will sell EUR here at 1.7165 and place our stop at 1.7265. We will take profit at 1.6990.

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

Source:: Elliott wave analysis of EUR/NZD for April 24, 2018

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