04.08.201505:34 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for August 4, 2015

Long-term review

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Technical summary:

We continue to look for upside acceleration towards 1.7277 as the next upside target. In the short term, we need a break above minor resistance at 1.6740 and of cause more importantly a break above resistance at 1.6826 confirming a rally higher to 1.6995 on the way towards 1.7277.

Short-term support is found at 1.6616 and at 1.6555 again.

Trading recommendation:

We are long EUR from 1.6603 with stop placed at 1.6370. If you are not long EUR yet, buy on a break above 1.6826.

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