FX.co ★ Elliott wave analysis of EUR/NZD for December 1 - 2016

Wave summary:

A new low has been seen here at 1.4801. All requirements have been fulfilled for the ending diagonal from 1.5839. We still expect more downside to 1.4728 and possibly even lower to 1.4575 as long as resistance at 1.5095 is able to cap the upside. A break above 1.5095 will indicate that the diagonal is complete and a return to the origin of the ending diagonal at 1.5839 is developing.

Trading recommendation:

We are looking for a EUR-buying opportunity. We will buy EUR at 1.4585 or upon a break above 1.5095.