Technical summary:
We are still looking for a break above minor resistance at 1.5920 to confirm acceleration higher towards 1.6000 and 1.6273. Only an unexpected break below support at 1.5788 will delay the expected upside for a move slightly lower to 1.5745 before the next upside pressure should be expected.
Trading recommendation:
We are long in EUR from 1.5830 with stop placed at 1.5775. If you are not long in EUR yet, then buy a break above 1.5920 and use the same stop at 1.5775.
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 December 1 - 2014 . Thanks for your support.
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