15.09.201705:58 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for September 15, 2017

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:

Ideally the minor support at 1.6327 will continue to protect the downside for a rally above 1.6570 confirming, that red wave v higher towards at least 1.6883 is developing. Longer term, we continue to look for much higher levels for this cross, but sometimes this cross move is slow-motion and is not really going anywhere.

R3: 1.6624

R2: 1.6569

R1: 1.6532

Pivot: 1.6485

S1: 1.6415

S2: 1.6332

S3: 1.6309

Trading recommendation:

We are long EUR from 1.6395 with stop placed at 1.6295. If you are not long EUR yet, then buy a break above 1.6569 and use the same stop at 1.6295.

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.