InstaForex - Analytics


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    Elliott wave analysis of EUR/NZD for September 29, 2015


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    Technical summary:

    We have seen an almost perfect touch down of our target near 1.7455 (the low came in at 1.7454). The next important thing to watch for is a break above resistance at 1.8000 that would call for a continuation higher to 1.8683.

    In the short term, we will ideally see minor support at 1.7759 protecting the downside for the test of 1.8000 and a break above this line.

    Trading recommendation:

    We are long EUR from 1.7475 and will move our stop higher to 1.7450.

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