For Traders

Analytical Reviews

Wave analysis

18.12.201708:21 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for December 18, 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:

EUR/NZD is now trading just above its 1.6720 targets, which is expected to mark the low for wave (iv) and set the stage for a strong rally in wave (v) towards 1.7770. Short-term a break above minor resistance at 1.6873 will indicate that wave (iv) has completed, while a break above resistance at 1.6965 will confirm that wave (iv) has completed and wave (v) higher is developing.

R3: 1.6965

R2: 1.6918

R1: 1.6873

Pivot: 1.6836

S1: 1.6757

S2: 1.6720

R3: 1.6695

Trading recommendation:

We will buy EUR at 1.6735 or upon a break above 1.6873.

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.