Elliott wave analysis of EUR/NZD for June 26, 2017

Wave summary:

We continue to look for a break above minor resistance at 1.5504 as indication that wave ii/ has completed and wave iii/ higher to above 1.6237 is developing.

Short-term support is seen at 1.5279, which should to be able to protect the downside for the expected break above 1.5504 for a rally to 1.59314 and higher.

R3: 1.5633

R2: 1.5564

R1: 1.5504

Pivot:

1.5420

S1: 1.5331

S2: 1.5279

S3: 1.5255

Trading recommendation:

We are long EUR from 1.5446 with stop placed at 1.5246. If you are not long EUR yet, then buy a break above 1.5504 and use the same stop at 1.5246.

The material has been provided by InstaForex Company - www.instaforex.com