Elliott wave analysis of EUR/NZD for February 28, 2017 888011000 110888 Wave summary: For the time being the characteristics of EUR/NZD is sluggish. We still think a long-lasting low was seen at 1.4495, and a new spontaneous rally is on. We need a break above the resistance at 1.4866 to validate that the low is in location and a brand-new impulsive rally higher to 1.5282 and 1.5836 is unfolding. Thisbullish count leaves out the possibility of a breaklisted below 1.4495. R3: 1.4866 R2: 1.4804 R1: 1.4751 Pivot: 1.4675 S1: 1.4615 S2: 1.4554 S3: 1.4495 Trading suggestion: We are long EUR from 1.4840 with stop positioned at 1.4490. If you are shortly EUR yet, purchase upon a break above 1.4866 and utilize the exact same stop at 1.4490. The product has actually been offered by InstaForex Company-www.instaforex.com

Wave summary: For the time being the dynamics of EUR/NZD is sluggish

. We still think

a long-lasting low was seen at 1.4495, and a brand-new impulsive rally is on. However, we require a break above the resistance at 1.4866 to verify that the low is in place and a new spontaneous rally higher to 1.5282 and 1.5836 is unfolding. This bullish count leaves out the possibility of a break listed below 1.4495.

R3: 1.4866 R2: 1.4804 R1: 1.4751 Pivot: 1.4675 S1: 1.4615 S2: 1.4554 S3: 1.4495

Trading recommendation: We are long EUR from 1.4840 with

stop put

at 1.4490. If you are

shortly EUR yet, purchase upon a break above 1.4866 and utilize the exact same stop at 1.4490. The material has actually been offered by InstaForex Business-www.instaforex.com