EUR/NZD is trading within a narrow range between 1.6855 and 1.6930 at the moment. Not giving us any real hint of its intentions. We could still see a final spike lower to 1.6775 before completing the wave ii and setting the stage for the wave iii higher towards 1.7479 and above.
Only a direct break above 1.7000 will indicate that the wave ii has already completed, and the wave iii is developing higher.
We will buy EUR at 1.6790 or upon a break above 1.6972.
The material has been provided by InstaForex Company – www.instaforex.com