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02.01.201806:46 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for January 2, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 02.01.2018 analysis

Wave summary:

The break above minor resistance at 1.6925 is not yet convincing, but a more firm break is expected soon for more upside pressure towards 1.7064 on the way higher to 1.7777.

Support is now seen at 1.6837, which is expected to protect the downside for the firm break above 1.6925.

R3: 1.7064

R2: 1.6993

R1: 1.6925

Pivot: 1.6876

S1: 1.6837

S2: 1.6800

S3: 1.6793

Trading recommendation:

We are EUR 1.6873 with stop placed at 1.6795.

Torben Melsted
Analytical expert of InstaForex
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