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14.09.201505:34 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for September 14, 2015

Long-term review

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Technical summary:

We continue to look for more upside pressure towards 1.8702 as wave iii of (v). Ideally this rally in wave (v) will break slightly above the top of wave (iii) at 1.9023 before a larger correction towards 1.7299 is seen. In the short term, support at 1.7840 will be able to protect the downside for a clear break above minor resistance at 1.7996 for the rally higher to 1.8702.

Trading recommendation:

We are long EUR from 1.7490 and will move our stop higher to 1.7620. If you are nort long EUR yet, then buy a break above 1.7996 and place your stop at 1.7840.

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