Elliott wave analysis of EUR/NZD for August 30, 2017


Wave summary:

We have seen the expected peak near 1.6636 (the high has been seen at 1.6634) and we are currently looking for a corrective decline to at least 1.6348 and possibly even closer to 1.6171 before pushing higher again towards the next major target seen at 1.6969.

R3: 1.6969

R2: 1.6744

R1: 1.6634

Pivot: 1.6550

S1: 1.6440

S2: 1.6348

S3: 1.6171

Trading recommendation:

We took profit at 1.6620 for a nice 470 pips gain. We will buy EUR again at 1.6185.

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

Source:: Elliott wave analysis of EUR/NZD for August 30, 2017

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