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Elliott wave analysis of EUR/NZD for March 13 - 2015

2015-03-13-EURNZD-4H.png

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Technical summary:

The correction in wave iv will likely be complex and take up more time. We are looking for a move closer to 1.4445 and maybe even slightly higher towards 1.4560 before the next downside pressure towards 1.4135 that is expected. In the short term, only a break below minor support at 1.4337 indicates more downside pressure.

Trading recommendation:

As we expect a more complex correction to unfold, it is better to stay neutral for now.

Uitgevoerd door, Analytische expert
InstaForex Group © 2007-2015


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