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Elliott Wave Ananlysis of EUR/NZD for July 20, 2017

Posted On 20 Jul 2017
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Wave summary:

No change in view here.

We countinue to look for a break above minor resistance seen at 1.5733 and more importantly above resistance at 1.5899 that will call for a continuation higher towards 1.6236 and above here too in the longer term. Only an unexpected break below support at 1.5419 will delay the expected upside pressure.

Trading recommendation:

We are long EUR from 1.5510 with stop placed at 1.5410. Buy a break above minor resistance at 1.5733 and use the same stop.

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

Source:: Elliott Wave Ananlysis of EUR/NZD for July 20, 2017

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