For Traders

Analytical Reviews

Wave analysis

21.09.201708:14 Forex Analysis & Reviews: Elliott Wave Analysis of EUR/NZD for September 21, 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:

Red wave iv continues to extend lower. By breaking below support at 1.6269, the next possible target for red wave iv is seen in the 1.5993 - 1.6055 area from where the next impulsive rally towards 1.6763 is expected.

R3: 1.6690

R2: 1.6533

R1: 1.6441

Pivot: 1.6262

S1: 1.6200

S2: 1.6137

S3: 1.6055

Trading recommendation:

Our stop at 1.6255 was hit for a loss. We are looking for a new EUR-buying opportunity at 1.6060 with stop placed at 1.5960.

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.