Elliott wave analysis of EUR/NZD for November 24, 2015
November 24, 2015 7:10 am
Wave summary:
As long as minor resistance at 1.6434 is able to protect the upside, we will continue to look for the final spike lower to 1.5898 before the decline from 1.9114 will finally have to come to an end.
Only a direct breakout above minor resistance at 1.6434 and of cause more importantly a breakout above resistance at 1.6548 will trigger a new impulsive rally higher to 1.8020, to 1.9114, and even above.
Trading recommendation:
We will buy EUR at 1.5925 or upon a break above 1.6406 (one order done cancels the other).
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
As long as minor resistance at 1.6434 is able to protect the upside, we will continue to look for the final spike lower to 1.5898 before the decline from 1.9114 will finally have to come to an end.
Only a direct breakout above minor resistance at 1.6434 and of cause more importantly a breakout above resistance at 1.6548 will trigger a new impulsive rally higher to 1.8020, to 1.9114, and even above.
Trading recommendation:
We will buy EUR at 1.5925 or upon a break above 1.6406 (one order done cancels the other).
The material has been provided by InstaForex Company – www.instaforex.com
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