For Traders

Analytical Reviews

Wave analysis

18.06.201805:25 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for June 18, 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.

The rally higher of the 1.6567 low does look constructive. Short-term we will be looking for a minor setback to 1.6676 before the next rally higher towards the 1.6768 - 1.6793 area to complete the first minor impulsive rally. Once this first impulsive rally of the 1.6567 low is complete, then look for a corrective decline into the 1.6656 - 1.6684 support-area in wave ii/.

R3: 1.6793

R2: 1.6768

R1: 1.6744

Pivot: 1.6713

S1: 16676

S2: 1.6653

S3: 1.6618

Trading recommendation:

We will wait for a confirmed five wave rally of the 1.6567 low and then buy into the correction in wave ii/. So for now, we will stay sidelined.

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.