You are here: Home > articles > Elliott Wave > Elliott Wave Analysis of EUR/NZD for November 29, 2013
Elliott Wave Analysis of EUR/NZD for November 29, 2013
November 29, 2013 6:45 amVideo
Latest News
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
- Video market update for April 18, 2024 April 18, 2024
- Technical Analysis – WTI oil futures exit sideways move to the downside April 18, 2024
- Market Comment – US dollar on the back foot as nervousness lingers in equity markets April 18, 2024
- Hot forecast for EUR/USD on April 18, 2024 April 18, 2024
- EUR/USD and GBP/USD: Technical analysis on April 18 April 18, 2024
- Trading plan for GBP/USD on April 18. Simple tips for beginners April 18, 2024
- Trading plan for EUR/USD on April 18. Simple tips for beginners April 18, 2024
- The Fed and global instability: a double blow to American markets April 18, 2024
- Forecast for EUR/USD on April 18, 2024 April 18, 2024
- Forecast for GBP/USD on April 18, 2024 April 18, 2024
- Forecast for AUD/USD on April 18, 2024 April 18, 2024
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
Today’s Support and Resistance Levels:
R3: 1.6970
R2: 1.6890
R1: 1.6843
Current Spot: 1.6799
S1: 1.6749
S2: 1.6710
S3: 1.6637
Technical Summary:
With the clear break above 1.6733, the green wave v is extending and the next target for green wave v is at 1.6970, where green wave v is 100% of the distance traveled from the bottom of green wave i to the top of green wave iii. As we also have broken clearly out of the base-channel, we should expect only small or even sub-normal corrections as wave iii extends higher.
Short-term we should expect support at 1.6749 will protect the downside for a continuation higher towards 1.6970. A break below 1.6749 or more importantly a break below 1.6710 will call for a deeper correction towards 1.6625.
Trading Recommendation:
As we have missed two buying opportunities and we have broken clearly out of the base-channel, we will wait no longer. We will buy EUR here at 1.6799 with a stop at 1.6590.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: