FX.co ★ Elliott wave analysis of EUR/NZD for September 7, 2018

EUR/NZD traded within a very narrow 80 pips band yesterday. We continue to look for more upside towards 1.7820 on the way higher to 1.8369 and beyond.

Short-term support is seen at 1.7603 and again at 1.7538. Ideally support at 1.7603 will be able to protect the downside for the next rally higher towards the sub-target at 1.7820.

R3: 1.7820

R2: 1.7750

R1: 1.7714

Pivot: 1.7679

S1: 1.7647

S2: 1.7603

S3: 1.7538

Trading recommendation:

We are long EUR from 1.7330 with our stop placed at 1.7565. If you are not long EUR yet, then buy near 1.7603 and use the same stop at 1.7565.