FX.co ★ Elliott wave analysis of EUR/NZD for February 20 - 2015

Technical summary:

No change is seen here. We are still looking for the final decline to 1.5000 as long as resistance at 1.5209 protects the upside. However, once the 1.5000 target has been tested or upon an early break above resistance at 1.5209 a new impulsive rally should be expected for a rally higher towards 1.5821 and above. Our bullish count will only be invalidate, if a break below support at 1.4888 is seen.

Trading recommendation:

We will buy EUR at 1.5025 or upon a break above 1.5210.