Elliott wave analysis of EUR/NZD for November 20, 2015
November 20, 2015 7:00 am
Wave summary:
Resistance at 1.6545 was formidably proved, and a breakout below support at 1.6280 calls for one final decline closer to 1.5898 before the correction from 1.9114 finally comes to an end.
Short-term resistance is now seen at 1.6400, which will ideally protect the upside for a continuation lower towards 1.5898.
Trading recommendation:
Our stop at 1.6280 was hit for a small loss. We will sell EUR at 1.6385 with stop placed at 1.6525
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
Resistance at 1.6545 was formidably proved, and a breakout below support at 1.6280 calls for one final decline closer to 1.5898 before the correction from 1.9114 finally comes to an end.
Short-term resistance is now seen at 1.6400, which will ideally protect the upside for a continuation lower towards 1.5898.
Trading recommendation:
Our stop at 1.6280 was hit for a small loss. We will sell EUR at 1.6385 with stop placed at 1.6525
The material has been provided by InstaForex Company – www.instaforex.com
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