FX.co ★ Elliott wave analysis of EUR/NZD for November 15, 2016

Wave summary:

Our preferred count remains the same: an ending diagonal completed with the test of 1.4812 and a return to the origin of the ending diagonal at 1.5839 is developing. To confirm that the ending diagonal is complete, the pair should break above the resistance-line near 1.5377.

In the short term, a break above minor resistance at 1.5266 will call for the test of 1.5377 on the way higher.

Trading recommendation:

We are long EUR from 1.4950 with stop placed at 1.4805. If you are not long EUR yet, the buy near 1.5100 or upon a break above 1.5266 and use the same stop at 1.4805.