Wave summary:
EUR/NZD continues to gain a little, but we are still not seeing the expected acceleration, which is a bit of a concern. That said, we will continue to look for more upside and ideally acceleration higher towards 1.6655 as long as minor support at 1.5987 is able to protect the downside. A break below 1.5987 will delay the expected upside pressure, but likely only for a test of 1.5836 before pushing higher again.
R3: 1.6445
R2: 1.6354
R1: 1.6237
Pivot: 1.6150
S1: 1.6086
S2: 1.5987
S3: 1.5908
Trading recommendation:
We are long EUR from 1.5665 with stop placed at 1.5800. If you are not long EUR yet, then buy near 1.5987 and use the same stop at 1.5800.
