11.09.201505:49 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for September 11, 2015

Long-term review

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Technical summary:

Now we can see an expected thrust out of the triangle towards the upside and it should just be a matter of time before we will see the next impulsive rally higher to 187.02. In the short term, a break above resistance at 1.8004 will confirm the rally higher.

Support is now found near 1.7792 and again at 1.7622, which will ideally protect the downside for a break above 1.8004 and the rally towards 1.8702

Trading recommendation:

We are long EUR from 1.7490 and will keep our stop at 1.7300. If you are not long EUR yet, then buy on a break above 1.7968 with stop placed at 1.7800.

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