Wave summary:
We continue to look for confirmation that wave 2 has bottomed. As long as resistance at 1.6515 protects the upside, one final decline closer to the 61.8% corrective target at 1.5882 can not be excluded, but from there or upon a break above resistance at 1.6515 a new impulsive rally higher to at least 1.8020 would be expected.
In the longer term, a break above 1.9114 should be seen.
Trading recommendation:
We will buy EUR at 1.5900 or upon a break above 1.6520
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/NZD for November 3 - 2015 . Thanks for your support.
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