InstaForex - Analytics

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    Elliott wave analysis of EUR/NZD for February 16, 2016 2016-02-15

    2016-02-15-EURNZD-8H1.png

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    Wave summary:

    EUR/NZD keeps disappointing as it can't accelerate higher. The expected acceleration is likely to be seen when we lose our patience.

    In a short term, the pair can find a support near 1.6671 for a break above 1.6906 and, more importantly, a break above 1.7050 which will confirm the rally to 1.7273. If this level is broken above, the trend can continue towards 1.8020.

    Our stop at 1.6695 has been hit. We will look for a new buying opportunity upon a break above 1.7050.


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