Technical summary:
We are still locked inside a very narrow consolidation-area between 1.6554 and 1.6791. We continue to look for an upside break for a continuation higher towards 1.6995 and 1.7277. Only a break below 1.6554 will delay the expected upside pressure closer to 1.6320 before moving higher again.
Trading recommendation:
We are long EUR from 1.6603 with stop placed at 1.6550. If you are not long EUR yet, then wait for a break above resistance at 1.6791 before buying EUR.
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 August 7 - 2015 . Thanks for your support.
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