FX.co ★ Elliott wave analysis of EUR/NZD for June 28 - 2016

Wave summary:

We are looking for slightly more correction in wave (ii) closer to 1.5895 before turning lower in wave (iii) towards 1.4490.

In the short term, a break below minor support at 1.5484 will confirm that the correction in wave (ii) is complete and wave (iii) lower towards 1.4490 is developing.

Trading recommendation:

We will sell EUR at 1.5890 and place stop at 1.6035.