FX.co ★ Elliott wave analysis of EUR/NZD for April 2 - 2015

Technical summary:

We did see the expected rally yesterday, but there was no real follow-through towards the upside. Ideally, we will see minor support at 1.4382 protecting the downside for the rally higher towards 1.4631 and ideally above to confirm the bottom at 1.4128 and that more upside towards 1.4869 should be seen. At this point only an unexpected break below support at 1.4310 will confuse the bullish picture.

Trading recommendation:

We are long EUR from 1.4335 and keep our stop at 1.4300. If you are not long EUR yet, then buy EUR near 1.4382 with the same stop at 1.4300.