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07.03.201806:51 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for March 7, 2018

Long-term review

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Wave summary:

EUR/NZD continues to follow the expected path almost to perfection. After the minor dip to 1.6968 we are looking for a firm break above the resistance at 1.7100 for a continuation higher to 1.7470 on the way towards 1.7777.

Support is now seen at 1.7010 and again at 1.6968.

R3: 1.7264

R2: 1.7166

R1: 1.7100

Pivot: 1.7010

S1: 1.6968

S2: 1.6930

S3: 1.6877

Trading recommendation:

We are long EUR from 1.6790 with stop placed at 1.6850. Upon a break above 1.7100 our stop will be lifted to 1.6950.

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