15.03.201609:43 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for March 15 - 2016

Long-term review

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Wave summary:

The support area between 1.6445 - 1.6521 held perfect for a new rally. In the short term, I will be looking for a break above 1.6703 as the first good indication that the next impulsive rally is building for a rally towards 1.7220 and above. To confirm the rally towards 1.7220 a break above 1.6845 will be needed, but we do not think it will take a lot of effort to break this resistance.

Trading recommendation:

We are long EUR from 1.6595 and will move stop higher to 1.6460. If you are not long EUR yet buy a break above 1.6845 and use the same stop, but expect to raise it quickly.

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