Elliott Wave Analysis of EUR/NZD for March 18, 2016
Wave summary:
Overnight a spike to a low of 1.6435 has been seen. This likely marks the end of a small wave two correction and a minor wave three higher is about to take off. The first indication that a rally higher is about to develop is a break above 1.6635 and this new rally will be confirmed upon a break above 1.6874 for a continuation to 1.7220 and above.
Trading recommendation:
Our stop at 1.6460 was hit. We will re-buy EUR upon a break above 1.6635 with stop placed at 1.6430.
The material has been provided by InstaForex Company - www.instaforex.com
