Technical summary:
We are constantly gaining a little more upside, and it should just be a matter of time before short-term important resistance at 1.4631 takes out for a rally towards 1.4869 and higher. In the short term, we expect support at 1.4447 to protect the downside for the challenge of resistance at 1.4631. However, even if support at 1.4447 gets broken, the downside should be limited to 1.4368 before moving higher again.
Trading recommendation:
We are long EUR from 1.4335 and will move our stop higher to 1.4355. If you are not long EUR yet, the buy near 1.4447 with the same stop at 1.4355.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/NZD for April 7 - 2015 . Thanks for your support.
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