Elliott wave analysis of EUR/NZD for September 6, 2018

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We continue to look for more upside towards 1.7820 as the next upside target. This target will only be a sub-target as much more upside remains expected for this cross. Ultimatel,y EUR/NZD should continue moving higher towards 1.8364 and 1.9844 as the more important upside targets.

Support at 1.7484 will ideally continue to protect the downside for the next rally higher.

R3: 1.7820

R2: 1.7750

R1: 1.7714

Pivot: 1.7679

S1: 1.7647

S2: 1.7597

S3: 1.7538

Trading recommendation:

We are long EUR from 1.7330 with our stop placed at 1.7565. If you are not long EUR yet, buy near 1.7606 and use the same stop at 1.7565.

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