FX.co ★ Elliott wave analysis of EUR/NZD for March 28, 2017

Wave summary:

The triangle consolidation completed with the test of 1.5305 and wave [v] higher towards 1.5554 and likely even closer to 1.5780 and now is unfolding to complete wave (i). Once this wave is complete, a correction in wave (ii) closer to 1.5160 should be expected before higher again.

In the long term much more upside pressure is expected here to above 1.9023.

R3: 1.5780

R2: 1.5667

R1: 1.5554

Pivot: 1.5470

S1: 1.5440

S2: 1.5364

S3: 1.5305

Trading recommendation:

We are long EUR from 1.5170 and will move our stop higher to 1.5360. Take profit is placed at 1.5750.