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Wave analysis

11.07.201608:06 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for July 11 - 2016

Long-term review

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Wave summary:

We continue to look for a continuation lower to 1.4490 as the ideal downside target. In the short term, we expect minor resistance near 1.5226 will protect the upside for a break below 1.5102 confirming more downside pressure towards the ideal target.

Trade recommendation:

We are short in EUR from 1.5500 with stop at break-even. If you are not short in EUR yet, then sell near 1.5226 and use the same stop at 1.5500.

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