FX.co ★ Elliott wave analysis of EUR/NZD for December 3 - 2014

Technical summary:

Not much has happened here, but we are still looking for support at 1.5788 to protect the downside for a break above resistance at 1.5942 and more importantly a break above resistance at 1.5991 to confirm the next rally towards 1.6273 and higher. Only an unexpected break below support at 1.5788 will delay the expected rally for a move closer to 1.5722 before the next move higher.

Trading recommendation: