Elliott wave analysis of EUR/NZD for November 26 – 2014
November 26, 2014 11:50 am
Today’s support and resistance levels:
R3: 1.6004
R2: 1.5993
R1: 1.5972
Current spot: 1.5944
S1: 1.5917
S2: 1.5878
S3: 1.5849
Technical summary:
The correction we where looking for towards 1.5805 is currently unfolding. Short term, we expect minor resistance at 1.5972 will protect the upside for a break below minor support at 1.5917 and more importantly below support at 1.5878 confirming the decline to 1.5805, before this correction is over.
Trading recommendation:
We are looking for a EUR-buy possibility near 1.5805.
The material has been provided by InstaForex Company – www.instaforex.com
Today’s support and resistance levels:
R3: 1.6004
R2: 1.5993
R1: 1.5972
Current spot: 1.5944
S1: 1.5917
S2: 1.5878
S3: 1.5849
Technical summary:
The correction we where looking for towards 1.5805 is currently unfolding. Short term, we expect minor resistance at 1.5972 will protect the upside for a break below minor support at 1.5917 and more importantly below support at 1.5878 confirming the decline to 1.5805, before this correction is over.
Trading recommendation:
We are looking for a EUR-buy possibility near 1.5805.
The material has been provided by InstaForex Company – www.instaforex.com
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