FX.co ★ Elliott wave analysis of EUR/NZD for December 27, 2017

Wave summary:

We are looking for a corrective low in wave ii soon. To confirm that wave ii has completed a break above minor resistance at 1.6927 is needed, which will call for a rally towards at least 1.7373 and possibly higher. The long-term target for this rally is seen near 1.7777.

R3: 1.7064

R2: 1.6993

R1: 1.6927

Pivot: 1.6855

S1: 1.6828

S2: 1.6802

S3: 1.6780

Trading recommendation:

We are long EUR from 1.6873 with stop placed at 1.6795.