FX.co ★ Elliott wave analysis of EUR/NZD for December 9 - 2014

Technical summary:

We finally have the upside acceleration we have been looking for. The next upside target is found at 1.6279, but in the longer term, we should see a continuation higher towards 1.6446 and with the ideal target for wave c at 1.7124. Support is now found at 1.6079 and more importantly at 1.6019, which ideally will protect the downside for the continuation higher towards 1.6279 and beyond.

Trading recommendation:

We are long in EUR from 1.5830 and will move our stop higher to 1.6010. If you are not long in EUR yet, then buy near 1.6079 with the same stop at 1.6010.