FX.co ★ Elliott wave analysis of EUR/NZD for December 17 - 2014

Technical summary:

It finally looks as, we will get the close above the resistance line opening up the upside for a strong rally towards 1.6273 and 1.6446 on the way higher to 1.7125. In the short run, we would like to see the former resistance line near 1.6100 acting as support for the next rally higher to 1.6273 and above.

Trading recommendation:

We are long in EUR from 1.5915 with stop placed at 1.5980. If you are not long in EUR yet, the buy near 1.6100 with the same stop at 1.5980.