For Traders

Analytical Reviews

Wave analysis

11.01.201806:31 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for January 11, 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.

Wave summary:

EUR/NZD is in a bottoming phase and we are looking for a break above 1.6688 as confirmation that wave (ii) has completed and wave (iii) higher to above 1.7493 is developing.

Once the minor resistance at 1.6688 is broken the first upside target to look for is seen at in the 1.7025 - 1.7065 area.

R3: 1.6801

R2: 1.6744

R1: 1.6680

Pivot: 1.6614

S1: 1.6555

S2: 1.6501

S3: 1.6441

Trading recommendation:

We took profit on the last 50% of our position at 1.6610 for a nice profit of 185 pips. We will buy EUR upon a break above 1.6688.

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.