empty
 
 
03.10.2018 05:14 AM
Elliott wave analysis of EUR/NZD for October 3, 2018

This image is no longer relevant

Red wave ii/ finally seems to have found its low near the strong support at 1.7484. The break above minor resistance at 1.7592 is the first good indication that a corrective low has been seen and a new impulsive rally now is developing. A break above resistance at 1.7637 will confirm that red wave iii/ towards 1.8030 and 1.8369 and above is developing.

Short-term support is now seen at 1.7512 and then again at 1.7484.

R3: 1.7732

R2: 1.7704

R1: 1.7636

Pivot: 1.7594

S1: 1.7512

S2: 1.7484

S3: 1.7412

Trading recommendation:

We are long EUR from 1.7500 and we have raised our stop to 1.7475. If you are not long EUR yet, the buy near 1.7512 or upon a break above 1.7637 and use the same stop at 1.7475.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $5000 more!
    In November we raffle $5000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback