FX.co ★ Elliott wave analysis of EUR/NZD for July 8, 2016

Wave summary:

With the clear break below 1.5280 the possible expanded flat correction has been invalidated and we will remain focused towards the downside for a continuation lower towards 1.4490.

The next support to look for along the way lower is seen at 1.4920. While short-term resistance is seen near 1.5298 and again at 1.5330.

Trade recommendation:

Stay short from 1.5500 and move your stop to break-even. If you are not short EUR yet, then sell near 1.5330 and use the same stop.