17.09.201805:14 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for September 17, 2018

Long-term review

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There is not much news to bring in front here. The sideways consolidation continues to use up time rather than points. We could still see a dip closer to 1.7594 as long as minor resistance at 1.7804 caps the upside. From support at 1.7594 or upon a break above minor resistance at 1.7804 a new rally closer to 1.8030 should be expected as the long-term uptrend work its way towards the long-term target at 1.8369.

R3: 1.7954

R2: 1.7900

R1: 1.7825

Pivot: 1.7804

S1: 1.7755

S2: 1.7700

S3: 1.7683

Trading recommendation:

We are looking for a possible buying opportunity near 1.7615 or upon a break above 1.7804.

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