FX.co ★ Elliott wave analysis of EUR/NZD for November 23, 2016

Wave summary:

EUR/NZD continue to work its way lower towards 1.4985. From here or upon a direct break above resistance at 1.5168 a new impulsive rally towards 1.5618 is expected. A firm break above 1.5078 will be the first indication that the corrective decline from 1.5266 is complete and the new impulsive rally is unfolding.

Trading recommendation:

We will buy EUR at 1.5000 or upon a break above 1.5078 with stop placed at 1.4810