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    Elliott wave analysis of EUR/NZD for March 16 - 2015

    2015-03-16-EURNZD-4H.png

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    Technical summary:

    Wave iv moved slightly above the ideal corrective target at 1.4445 (a high came in at 1.4468) before turning lower to a new low. We are looking for wave v lower to 1.3885 before a bottom should be expected. In the short term, we must allow for a correction towards 1.4407 before the next strong decline is expected. That said we are very likely in the final part of the long-term decline, so this is not the time to be overly aggressive.

    Trading recommendation:

    We will stay neutral for now.

    Uitgevoerd door, Analytische expert
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