Elliott wave analysis of EUR/NZD for November 6 – 2015
November 6, 2015 8:10 am
Wave summary:
The base-building below important resistance at 1.6515 is going on. This resistance still needs to give away to confirm that a firm bottom is in place for a strong rally higher towards 1.8020. The risk is of course a break below support at 1.6124 that is calling for one more decline closer to 1.5882 before the next move higher should be expected.
Trading recommendation:
Only buy EUR upon a break above 1.6565.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
The base-building below important resistance at 1.6515 is going on. This resistance still needs to give away to confirm that a firm bottom is in place for a strong rally higher towards 1.8020. The risk is of course a break below support at 1.6124 that is calling for one more decline closer to 1.5882 before the next move higher should be expected.
Trading recommendation:
Only buy EUR upon a break above 1.6565.
The material has been provided by InstaForex Company – www.instaforex.com
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