Elliott wave analysis of EUR/NZD for June 16, 2017 888011000 110888 Wave summary: Our favored count remains that a low most likely was seen with the test of 1.5370 and wave iii/ higher is prepared to develop. That stated, we require a break above the resistance line near 1.5532 to verify that wave ii/ has actually finished and wave iii/ greater to above 1.6237 is developing. Up until the break above the resistance-line near 1.5532 isseen, we should enable a retestof the 1.5370 low andeven a spikebelow, however that should be short lived. R3: 1.5564 R2:1.5517 R1: 1.5480 Pivot: 1.5460 S1: 1.5453 S2: 1.5424 S3. 1.5370 Trading recommendation: We are long EUR from 1.5540 with stop positioned at 1.5340. Purchase a break above 1.5532 and utilize the same stop if you are not long EUR yet. The product has actually been supplied by InstaForex Company- www.instaforex.com

By | June 16, 2017

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