Elliott wave analysis of EUR/NZD for April 4, 2017


Wave summary:

Currently we are looking for a break above minor resistance seen at 1.5347 as confirmation that wave [iv] has completed with the test of 1.5149 and a new impulsive rally now is unfolding in wave [v] towards at least 1.5570 and likely even closer to 1.5797 as the ideal upside target.

R3: 1.5456

R2: 1.5347

R1: 1.5317

Pivot: 1.5250

S1: 1.5210

S2: 1.5149

S3: 1.5110

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/90121/?x=BPDZ