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18.10.201806:59 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for October 18, 2018

Long-term review

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Not really anything new to add here. We continue to look for evidence, that blue wave ii has completed and blue wave iii towards 1.8030 and later 1.8369 is developing.

To confirm that blue wave ii has completed and blue wave iii has taken over a break above resistance at 1.7597 and more importantly a break above resistance at 1.7657 is needed.

Support remains seen at 1.7534 and then at 1.7515.

R3:1.7657

R2: 1.7625

R1: 1.7586

Pivot: 1.7561

S1: 1.7555

S2: 1.7515

S3: 1.7477

Trading recommendation:

We are long EUR from 1.7555 with our stop placed at 1.7465.

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