Wave summary:
We have seen an expected breakout above the base channel resistance line near 1.6750, which now should act as support for upside acceleration towards 1.7205 and 1.7641.
In the longer term, we continue to look for even more upside pressure towards 1.8020 as the next important long-term resistance.
Trading recommendation:
We are long EUR from 1.5810 and will move our stop higher to 1.6640. If you are not long EUR yet, then buy near 1.6750 and place your stop at 1.6640.
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 January 18, 2016 . Thanks for your support.
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