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17.08.201808:39 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for August 17, 2018

Long-term review

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Not really anything new to say here. We need a break above resistance at 1.7355 to confirm that red wave ii has completed and red wave iii to above 1.7484 is developing. The next important upside targets to look for is seen at 1.7924 and 1.8369.

Support is seen at 1.7247 and 1.7220.

R3: 1.7484

R2: 1.7417

R1: 1.7365

Pivot: 1.7299

S1: 1.7270

S2: 1.7243

S3: 1.7220

Trading recommendation:

We are long EUR from 1.7245 with our stop placed at 1.7215.

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