Elliott wave analysis of EUR/NZD for March 27, 2018

EUR/NZD - Weekly

EUR/NZD - 4 Hourly

Long-term we continue to look for more upside pressure towards 1.8437 and ideally closer to 1.9844 (Diamond and 50% corrective target).

Zooming in on the shorter time-frame, we need a clear break above resistance at 1.7100 to get the next "GO" for a rally towards 1.7536 and 1.7744 as the next larger targets on the way higher towards 1.8437.

R3: 1.7479

R2: 1.7249

R1: 1.7100

Pivot: 1.6986

S1: 1.6918

S2: 1.6827

S3: 1.6800

Trade recommendation:

We will buy EUR at 1.7000 or upon a break above 1.7100

The material has been provided by InstaForex Company - www.instaforex.com