Elliott wave analysis of EUR/NZD for May 30, 2017
We continue to look for a spike lower to 1.1.5537 to complete the expanded flat correction in wave ii/ and turning prices higher in wave iii/ to above 1.6237 for a continuation higher to 1.6655. Only a direct break above minor resistance, seen at 1.6006, will indicate that a running flat has been unfolding and wave ii/ completed early.
R3: 1.6080 R2: 1.6006 R1: 1.5847 Pivot: 1.5800 S1: 1.5734 S2: 1.5660 S3: 1.5537
Trading recommendation: We are looking for re-buy EUR at 1.5550 or upon a break above 1.5985.
R3: 1.6080 R2: 1.6006 R1: 1.5847 Pivot: 1.5800 S1: 1.5734 S2: 1.5660 S3: 1.5537
Trading recommendation: We are looking for re-buy EUR at 1.5550 or upon a break above 1.5985.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.