InstaForex - Analytics


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    Elliott wave analysis of EUR/NZD for June 23 - 2016


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    Wave summary:

    We continue to look for the final spike lower to 1.5604 to complete wave (i). After a relief rally to 1.6040, renewed downside pressure will be expected for the next impulsive decline in wave (iii) towards 1.4702.

    The ideal target for wave C is seen at 144.71.

    Trading recommendation:

    Stay short in EUR and move your stop lower to 1.5875. Keep take profit at 1.5625.

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