Elliott wave analysis of EUR/NZD for April 3, 2017


Wave summary:

We continue to look for a more upside pressure in wave [v] toward at least 1.5570 and likely even closer to 1.5790 before the first impulsive rally from 1.4495 is complete. Longer-term we continue to look for much more upside closer to 2.0147, so we are only in the early stages of a new strong rally higher.

R3: 1.5388

R2: 1.5350

R1: 1.5305

Pivot: 1.5225

S1: 1.5150

S2: 1.5100

S3: 1.5050

Trading recommendation:

We are long EUR from 1.5235 with stop placed at 1.5050. If you are not long EUR yet, then buy a break above 1.5310 and use the same stop.

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

from www.instaforex.com https://www.instaforex.com/forex_analysis/90059/?x=BPDZ