FX.co ★ Elliott wave analysis of EUR/NZD for August 24 - 2016

Wave summary:

We remain slightly bullish for a break above minor resistance at 1.5649 soon, but short term, we must allow for a test of support at 1.5366 first, before the next hopefully strong rally will take us clearly above 1.5649 for a continuation towards 1.5839 and above to 1.6428 and 1.7195.

Only a clear break below 1.5366 will be a concern.

Trading recommendation:

We will buy EUR at 1.5370 or upon a break above 1.5649.