Elliott Wave Ananlysis of EUR/NZD for July 12, 2017

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Wave summary:

EUR/NZD is set to move higher towards the next upside target seen at 1.6232. Short-term support is now seen at 1.5712 which we expect will be able to protect the downside for the expected rally higher.

Trading recommendation:

We are long EUR from 1.5645 with stop placed at 1.5600. If you are not long EUR yet, then buy near 1.5712 and use the same stop.

The material has been provided by InstaForex Company - www.instaforex.com