03.09.201805:24 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for September 3, 2018

Long-term review

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We continue to look for a continuation of the new established uptrend towards 1.7812 and higher towards 1.8369 after the break above 1.7484.

In the short-term, we could see more sideways consolidation just above the former resistance at 1.7484, which now acts as support. It should just be a matter of time before this sideways consolidation is complete and the uptrend can continue towards 1.7812 and beyond.

Support is seen at 1.7484 and 1.7459.

R3: 1.7714

R2: 1.7668

R1: 1.7597

Pivot: 1.7484

S1: 1.7459

S2: 1.7414

S3: 1.7384

Trading recommendation:

We are long EUR from 1.7330 with our stop placed at 1.7410. If you are not long EUR yet, buy near 1.7484 or upon a break above 1.7597 and use the same stop at 1.7410.

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