Main Quotes Calendar Forum
flag

FX.co ★ Elliott wave analysis of EUR/NZD for June 5, 2018

parent
Forex Analysis:::2018-06-05T05:52:50

Elliott wave analysis of EUR/NZD for June 5, 2018

Elliott wave analysis of EUR/NZD for June 5, 2018

As long as resistance at 1.6764 is able to cap the upside, as long will the downtrend from 1.7294 stay alive. That said, we see a very limited potential towards the downside and think the possibilities now is towards the upside and no longer towards the downside. The loss of downside momentum, is a warning that a low could be found anytime now.

A break above resistance at 1.6764 is needed to confirm that a low has been seen in wave ii and that wave iii to above 1.7300 is developing.

R.:1.6827

R2: 1.6764

R1: 1.6708

Pivot: 1.6636

S1: 1.6605

S2: 1.6584

S3: 1.6544

Trading recommendation:

We will buy EUR at 1.6600 or upon a break above resistance at 1.6764. We will place our stop at 1.6510.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...