InstaForex - Analytics


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    Elliott wave analysis of EUR/NZD for February 17, 2016 2016-02-16


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    Wave summary:

    We still expect a break above resistance at 1.7042 and, more importantly, above 1.7273 which will result in acceleration towards 1.8020.

    As long as no clear break above 1.7042 is seen, we must accept the possibility of more consolidation in the 1.6835-1.7042 area.

    On a longer term basis, acceleration of upward movement is expected.

    Trading recommendation:

    We are looking for a buying opportunity upon a break above 1.7042 for acceleration towards 1.7273 and higher.

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