16.07.201805:27 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for July 16, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Wave i/ peaked at 1.7479 and the ongoing correction in wave ii/ will ideally make it lower to the 38.2% support at 1.7067 before turning higher in wave iii/ towards 1.8638.

Short-term a break below minor support at 1.7238 confirms more corrective downside pressure towards 1.7112 and ideally towards the 38.2% corrective target at 1.7067 to complete wave ii/ and set the stage for the next upside attack in wave iii/ towards 1.8638.

R3: 1.7379

R2: 1.7320

R1: 1.7299

Pivot: 1.7238

S1: 1.7200

S2: 1.7181

S3: 1.7139

Trading recommendation:

We will wait for a buying opportunity near 1.7067

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.