InstaForex - Analytics

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    Elliott wave analysis of EUR/NZD for March 18, 2016 2016-03-18

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    Wave summary:

    Overnight a spike to a low of 1.6435 has been seen. This likely marks the end of a small wave two correction and a minor wave three higher is about to take off. The first indication that a rally higher is about to develop is a break above 1.6635 and this new rally will be confirmed upon a break above 1.6874 for a continuation to 1.7220 and above.

    Trading recommendation:

    Our stop at 1.6460 was hit. We will re-buy EUR upon a break above 1.6635 with stop placed at 1.6430.


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