10.09.201804:58 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for September 10, 2018

Long-term review

Exchange Rates 10.09.2018 analysis

We continue to look for more upside pressure towards the next sub-target at 1.7820. Longer term resistance at 1.7820 only should prove to be a temporary cap as more upside towards strong resistance at 1.8369 remains expected.

Support is now seen at 1.7683 and again at 1.7638 only a break below the later, we confirm more sideways consolidation, and a dip to 1.7605 before the next strong push higher.

R3: 1.7820

R2: 1.7750

R1: 1.7734

Pivot: 1,7701

S1: 1.7683

S2: 1.7638

S3: 1.7605

Trading recommendation:

We are long EUR from 1.7330 with our stop placed at 1.7565, Upon a break above 1.7734 we will move our stop higher to 1.7595.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2021
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