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


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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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