Elliott wave analysis of EUR/NZD for October 26, 2017

Wave summary:

EUR/NZD continues to push higher and has now cleared the channel resistance-line, which also what one would expect during wave (iii). We continue to look for minor support at 1.7085 and more importantly for support at 1.6958 to protect the downside for the next rally higher towards the 1.7777 target.

R3: 1.7454

R2: 1.7273

R1: 1.7222

Pivot: 1.7085

S1: 1.6958

S2: 1.6918

S3: 1.6870

Trading recommendation:

We are long EUR from 1.6840 with stop placed at 1.6950.

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