Elliott wave analysis of EUR/NZD for August 3, 2018
EUR/NZD is finally showing some strength. A break above resistance at 1.7205 seems imminent and a clear break above this resistance confirms that red wave iii higher to 1.7510 is in motion. Longer term much higher levels remain expected.
Short-term support now is seen at 1.7180 and again at 1.7130 but they will likely not come into play.
We are long EUR from 1.7226 with our stop placed at 1.7110. If you are not long EUR yet, then buy a break above resistance at 1.7205 and use the same stop at 1.7110.