24.12.201812:33 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for December 24, 2018

Long-term review

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Wave iv does look complete, with the peak at 1.6986. We could see a final spike higher to 1.7015 to complete the wave iv, but all the requirements has been fulfilled and we are looking for a break below support at 1.6850 to confirm the completion of the wave iv, as well as the onset of the wave v towards 1.6185 and maybe even closer to 1.6000 before completing the impulsive decline from 1.7929.

R3: 1.7071

R2: 1.7015

R1: 1.6965

Pivot: 1.6921

S1: 1.6850

S2: 1.6777

S3: 1.6725

Trading recommendation:

We will sell EUR at 1.7010 or after a break below support 1.6850.

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