FX.co ★ Elliott wave analysis of EUR/NZD for October 9, 2017

Wave summary:

We have seen the expected break above 1.6451 for a continuation higher to 1.6690 and 1.6850 as the next upside targets. Support is now seen at 1.6451, which should be able to protect the downside for the expected continuation higher.

R3: 1.6618

R2: 1.6626

R1: 1.6572

Pivot: 1.6510

S1: 1.6485

S2: 1.6451

S3: 1.6438

Trading recommendation:

We are long EUR from 1.6365 and will raise our stop to 1.6425. If you are not long EUR yet, then buy near 1.6451 and use the same stop at 1.6425.