Elliott wave analysis of EUR/NZD for December 21, 2017

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Wave Summary:

EUR/NZD has rallied nicely. Support is now seen at 1.6865, which ideally will protect the downside for the next impulsive rally higher towards at least 1.7389 and likely even closer to 1.7513 in wave iii of (v).

R3: 1.7064

R2: 1.7000

R1: 1.6969

Pivot: 1.6905

S1: 1.6865

S2: 1.6822

S3: 1.6802

Trading recommendation:

We are long EUR from 1.6873 with stop placed at 1.6795

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