FX.co ★ Elliott wave analysis of EUR/NZD for August 9, 2017

Wave summary:

As long as minor support at 1.5832 is able to protect the downside, as long we will keep our focus towards the upside for a continuation towards the 1.6236 target. The resistance at 1.6236 should only provide temporary resistance as the uptrend continue higher towards 1.6969.

R3: 1.6236

R2: 1.6198

R1: 1.6081

Pivot: 1.6050

S1: 1.5996

S2: 1.5959

S3: 1.5832

Trading recommendation:

We are long EUR from 1.5510 with stop placed at 1.5825. If you are not long EUR yet, then buy near 1.5920 and use the same stop at 1.5825.