InstaForex - Analytics

    InstaForex

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    Elliott wave analysis of EUR/NZD for July 6, 2015

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    Technical summary:

    We are still looking for more upside pressure towards 1.7154. In the short term, we will see minor support at 1.6435 protecting the downside for a break above 1.6624. The brake will confirm a continuation higher to 1.7154 as the next major upside target.

    Only a break below support at 1.6435 will delay the expected upside rally closer to 1.6250 before renewed upside pressure shuld be expected.

    Trading recommendation:

    We are long EUR from 1.6588 with stop placed at 1.6310


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