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    Elliott wave analysis of EUR/NZD for November 9 - 2015

    2015-11-09-EURNZD-4H.png

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    Wave summary:

    Important resistance at 1.6545 is still protecting the upside and time is running out. If a break higher is not seen on the next attempt, then we shall expect one more decline closer to 1.5882 before a low finally is in place here.

    Short-term support is seen at 1.6337 and again at 1.6179 and below the later will indicate that one final decline is needed before the low is in place.

    Trading recommendation:

    Only buy EUR upon a break above 1.6545.


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