Elliott wave analysis of EUR/NZD for September 14, 2018


Red wave iv is working its way sideways to slightly down. We still think a dip to 1.7594 is possible, but be aware that all red wave iv needs to do is consolidate in a small sideways pattern before taking off higher again towards 1.8030 as the next sub-target on the way towards 1.8369.

Support is seen at 1.7683 and then again at 1.7594.

R3: 1.7954

R2: 1.7900

R1: 1.7825

Pivot: 1.7791

S1: 1.7755

S2: 1.7700

S3: 1.7683

Trading recommendation:

We continue to look for a possible EUR-buying opportunity near 1.7615.

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