FX.co ★ Elliott Wave Ananlysis of EUR/NZD for July 21, 2017

Wave summary:

No much to add here. We are still looking for a break above 1.5899 to confirm the next impulsive rally higher towards 1.6236 and above. As long as resistance at 1.5899 is able to cap the upside, more sideways consolidation should be expected, but no break below 1.5419 can be accepted under this count.

Trading recommendation:

We are long EUR from 1.5510 with stop placed at 1.5410. If you are not long EUR yet, then buy a break above 1.5899 and use the same stop.