10.04.201506:09 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for April 10 - 2015

Long-term review

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Technical summary:

TThe break below 1.4128 invalidated the possibility of a new impulsive rally being in motion. We changed our short-term count, which calls for a final decline closer to 1.3867 now and even 1.3687 before a firm bottom could be in place. In the short term, we will look for resistance at 1.4130 and again at 1.4193, which we expect to protect the upside for the next part of the decline closer to 1.3867 and likely even lower to 1.3687.

Trading recommendation:

Sell EUR near 1.4193 with stop placed at 143.00 and place take profit at 1.3875.

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