Elliott wave analysis of EUR/NZD for June 15, 2018 888011000 110888 EUR/NZD has actually made a new low because the 1.7294 peak and this now seriously concerns our former count. The other day’s break to brand-new lows does open the possibility of an alternate count. This count requires more drawback closer to 1.6416 and perhaps even a decline to 1.6338 if the former low at 1.6517 is broken.Only a direct break back above resistance at 1.6703 will alleviate the drawback pressure and more significantly, a break above resistance at 1.6842 will restore the bullish outlook, calling foran extension greater to 1.7294en route higher to 1.8437. R3: 1.6789R2: 1.6703R1: 1.6653 Pivot: 1.6617 S1: 1.6566 S2: 1.6517 S3: 1.6459 Trading recommendation: Our stop at 1.6685 was hit for a loss of 80 pips. We will stay sidelined for now. The product has actually been offered by InstaForex Business-www.instaforex.com

By | June 15, 2018

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