FX.co ★ Elliott wave analysis of EUR/NZD for December 27 - 2016

Wave summary:

No change in view here.

We are still looking for more correction in wave [ii] closer to 1.4964 before the next impulse rally set in for a move towards 1.5836 and above.

In the short term, we should allow for more sideways trading before the possible corrective decline closer to 1.4964. However, a direct rally above 1.5235 will indicate continuation higher towards 1.5836.

Trading recommendation:

We are looking for a buying opportunity at 1.4925 or upon a direct break above 1.5235.