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09.04.2015 05:41 AM
Elliott wave analysis of EUR/NZD for April 9 - 2015

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Technical summary:

If a new impulsive rally begins, the potential downside progress should be very limited from here. In the short term, a break above 1.4320 will be the first indication that red wave ii could be over, but a break above resistance at 1.4461 will be needed to confirm that red wave iii is developing and the bottom should be set at 1.4128.

Trading recommendation:

We will buy EUR upon a break above 1.4320 (say at 1.4330).

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