EUR/NZD is now trading just above its 1.6720 targets, which is expected to mark the low for wave (iv) and set the stage for a strong rally in wave (v) towards 1.7770. Short-term a break above minor resistance at 1.6873 will indicate that wave (iv) has completed, while a break above resistance at 1.6965 will confirm that wave (iv) has completed and wave (v) higher is developing.
We will buy EUR at 1.6735 or upon a break above 1.6873.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Torben Melsted,
InstaForex Group © 2007-2017
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