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Elliott wave analysis of EUR/NZD for February 11 - 2015

2015-02-11-EURNZD-4H.png

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Technical summary:

We are still looking for wave (ii) to bottom in the 1.5166 - 1.5244 area, so wave (iii) higher can take over. Once wave (iii) higher is confirmed, we should be looking for a rally towards at least 1.6668, where wave (iii) will be 161.8% the length of wave (i). In the short term, we need a break above minor resistance at 1.5321 and more importantly a break above resistance at 1.5409 to confirm that wave (iii) higher is developing.

Trading recommendations:

We are long EUR from 1.5255 with stop place at 1.5155.

Uitgevoerd door, Analytische expert
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