FX.co ★ Elliott wave analysis of EUR/NZD for October 28, 2015

Wave summary:

With a breakout above 1.6390 we can see the first indication that a bottom was found at 1.6124 and a new impulsive rally is about to develop. The next resistance to look for is found at 1.6546 and a breakout above here will be a strong indication of a bottom being in place and for a continuation higher to 1.6950 or just above this resistance. To mark the top of wave i.

Trading recommendation:

We bought EUR at 1.6390 and have placed our stop at 1.6180. If you are not long EUR yet, buy EUR near 1.6390 and use the same stop at 1.6180.