Elliott wave analysis of EUR/NZD for January - 2018

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Wave summary:

We are looking for a break above the minor resistance at 1.7064 to provide upside acceleration towards 1.7479 on the way higher to the long-term target near 1.7777.

Support is seen near 1.6889 and again at 1.6855, which is expected to protect the downside for a break above 1.7064.

R3: 1.7220

R2: 1.7130

R1: 1.7064

Pivot: 1.6952

S1: 1.6937

S2: 1.6889

S3: 1.6855

Trading recommendation:

We are long EUR from 1.6873 with stop placed at 1.6850.

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