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    Elliott wave analysis of EUR/NZD for April 1 - 2015


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    Technical summary:

    The correction from 1.4457 moved lower than expected and terminated at 1.4310, but the quick return into the base-channel indicates underlying strength. In the near term, we will be looking for a break above resistance at 1.4457 for a continuation higher to 1.4595. Now, a break above the base-channel resistance line near 1.4662 is likely to cause acceleration upwards. At this point only a break below 1.4310 will call for the expected upside pressure.

    Trading recommendation:

    We are long EUR from 1.4335 and will move our stop higher to 1.4300. If you are not long EUR yet, then buy a break above 1.4457 with the same stop at 1.4300.

    Uitgevoerd door, Analytische expert
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