FX.co ★ Elliott wave analysis of EUR/NZD for January 6, 2017

Wave summary:

We still need a break above minor resistance at 1.5123 and more importantly a break above resistance at 1.5235 to confirm, that the correction in wave ii/ is complete and wave iii/ higher towards 1.5911 has taken over.

As long as minor resistance at 1.5123 is able to cap the upside, we need to allow for a final move closer to 1.4900 to complete wave ii/ and set the stage for an extended rally in wave iii/.

Trading recommendation:

We are looking for a EUR-buying opportunity at 1.4925 or upon a break above 1.5123.