EURNZD 4H FRAME

Wave summary: We have finally broken above minor resistance at 1.4823 indicating that the ending diagonal from 1.5837 is complete and a new impulsive rally is building towards 1.5837 and above. Short term, we will like to see the former minor resistance at 1.4823 act as support for a rally to and break above resistance at 1.5092 and more importantly above resistance at 1.5162 that will confirm the rally higher to the origin of the ending diagonal. Trading recommendation: We bought EUR at 1.4830 with stop placed at 1.4650. If you are not long EUR yet, then buy near 1.4823 and use the same stop at 1.4650.

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