Elliott wave analysis of EUR/NZD for September 10, 2018


We continue to look for more upside pressure towards the next sub-target at 1.7820. Longer term resistance at 1.7820 only should prove to be a temporary cap as more upside towards strong resistance at 1.8369 remains expected.

Support is now seen at 1.7683 and again at 1.7638 only a break below the later, we confirm more sideways consolidation, and a dip to 1.7605 before the next strong push higher.

R3: 1.7820

R2: 1.7750

R1: 1.7734

Pivot: 1,7701

S1: 1.7683

S2: 1.7638

S3: 1.7605

Trading recommendation:

We are long EUR from 1.7330 with our stop placed at 1.7565, Upon a break above 1.7734 we will move our stop higher to 1.7595.

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