Elliott wave analysis of EUR/NZD for October 15, 2018
EUR/NZD has made a new corrective low at 1.7704, which indicates a more complex correction in blue wave ii is developing towards support at 1.7649 from where a new impulsive rally towards 1.8030 and 1.8369 is expected.
Only a break above 1.7842 will indicate that the correction in blue wave ii has completed and blue wave iii is developing.
We will buy EUR at 1.7655 or upon a break above 1.7841. We will place our stop at 1.7600.