For Traders

Analytical Reviews

Wave analysis

19.10.201707:20 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for October 19, 2017

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.

Wave summary:

We were looking for a b-wave rally to 1.6584, this target has been spiked as the high has been seen at 1.6662. The high at 1.6662 likely was the top for wave b and wave c to below 1.6298 closer to 1.6150 is now expected. To confirm wave c lower has taken over, we need a break below 1.6500 and more importantly a break below 1.6441.

R3: 1.6715

R2: 1.6687

R1: 1.6662

Pivot: 1.6530

S1: 1.6500

S2: 1.6441

S3: 1.6390

Trading recommendation:

Unfortunately, our stop at 1.6635 was hit for a loss. We will sell EUR again here at 1.6635 with the stop placed at 1.6675.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.