Wave summary:
EUR/NZD is not really doing anything at the moment. We continue to look for a break above 1.5347 as the go-signal for renewed upside pressure towards 1.5570 and possibly even closer to 1.5792 target. That said, support at 1.5151 will need to be able to protect the downside or a deeper correction closer to 1.5108 and possibly even closer to 1.4874 could be seen.
R3: 1.5457
R2: 1.5347
R2: 1.5312
Pivot: 1.5260
S1: 1.5183
S2: 1.5151
S3: 1.5108
Trading recommendation:
We are long EUR from 1.5235 we will move our stop higher to 1.5095. If you are not long EUR yet, then buy a break above 1.5347 and start by using the same stop.
The material has been provided by InstaForex Company - www.instaforex.com