FX.co ★ Elliott wave analysis of EUR/NZD for March 13 - 2015

Technical summary:

The correction in wave iv will likely be complex and take up more time. We are looking for a move closer to 1.4445 and maybe even slightly higher towards 1.4560 before the next downside pressure towards 1.4135 that is expected. In the short term, only a break below minor support at 1.4337 indicates more downside pressure.

Trading recommendation:

As we expect a more complex correction to unfold, it is better to stay neutral for now.