04.07.201607:04 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for July 4, 2016

Long-term review

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Wave summary:

No change in view here.

We expect minor support at 1.5411 will be able to protect the downside for a break above 1.5600 confirming a rally to 1.5816 to complete the correction in wave (ii) and set the stage for the next impulsive decline in wave (iii) towards 1.4490.

Trading recommednation:

Sell near 1.5816 and place your stop order at 1.5870.

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