empty
 
 
02.01.2019 07:59 AM
Elliott wave analysis of EUR/NZD for January 2, 2019

This image is no longer relevant

The price chart of EUR/NZD has been distorted by a very thin January 1 trading secession. To our knowledge a high has been seen at 1.7125 or just above the 50% corrective target at 1.7105. We are currently looking for a break below support at 1.7000 to confirm that a top is in place and more downside pressure towards 1.6115 should be expected.

That said, we have to accept the outside chance of a final spike closer to the 61.8% corrective target at 1.7289 as long as support at 1.7000 is able to protect the downside.

R3: 1.7289

R2: 1.7179

R1: 1.7125

Pivot: 1.7085

S1: 1.7042

S2: 1.7000

S3: 1.6951

Trading recommendation:

We are short EUR at 1.6975 with our stop placed at 1.7175.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Torben Melsted
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback