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Elliott wave analysis of EUR/NZD for February 5, 2018

Posted On 05 Feb 2018
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Wave summary:

EUR/NZD has rallied nicely, and more upside is expected after a minor corrective set-back close to 1.6965 from where the next impulsive rally towards 1.7360 on the way higher to 1.7490 and 1.7777 should be launched.

R3: 1.7202

R2: 1.7147

R1: 1.7101

Pivot: 1.7054

S1: 1.7020

S2: 1.6998

S3: 1.6965

Trading recommendation:

We are long EUR from 1.6695 and we will move our stop higher to 1.6905

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

Source:: Elliott wave analysis of EUR/NZD for February 5, 2018

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