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25.05.201805:21 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for May 25, 2018

Long-term review

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EUR/NZD is now in its final stages of the wave c/ of ii/. Ideally, we will see a minor dip closer to support near 1.6806 before the wave ii/ is complete, but we would not be surprised to see a premature low form for a new rally higher through minor resistance at 1.6958 and, more importantly, above resistance at 1.7061 confirming that the wave iii/ higher to test important resistance at 1.7300 is developing.

R3: 1.7061

R2: 1.6981

R1: 1.6958

Pivot: 1.6915

S1: 1.6883

S2: 1.6846

R3: 1.6806

Trading recommendation:

We are looking for a EUR-buying opportunity at 1.6815 or upon a break above 1.6960.

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