Elliott wave analysis of EUR/NZD for July 6, 2015 Market Analysis Review

Technical summary:

We are still looking for more upside pressure towards 1.7154. In the short term, we will see minor support at 1.6435 protecting the downside for a break above 1.6624. The brake will confirm a continuation higher to 1.7154 as the next major upside target.

Only a break below support at 1.6435 will delay the expected upside rally closer to 1.6250 before renewed upside pressure shuld be expected.

Trading recommendation:

We are long EUR from 1.6588 with stop placed at 1.6310

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