Elliott wave analysis of EUR/NZD for November 30, 2018
November 30, 2018 8:22 am
We continue to look for a final dip closer to 1.6478 to complete wave v/ and iii. This final dip should set the stage for a corrective rally in wave iv towards 1.6706 before the final decline in wave v towards 1.6235. This should complete the first impulsive decline from 1.7929 and set the stage for a larger corrective rally.
Short-term resistance is seen at 1.6629, which ideally will cap the upside for a final dip to 1.6478. A break above 1.6629 could indicate wave iii has completed early, while a break above 1.6655 will confirm the low is in place for the corrective rally closer to 1.6706.
R3: 1.6655
R2: 1.6629
R1: 1.6603
Pivot: 1.6587
S1: 1.6555
S2: 1.6514
S3: 1.6478
Trading recommendation: We will buy EUR at 1.6480 or upon a break above 1.6655.
The material has been provided by InstaForex Company – www.instaforex.com
We continue to look for a final dip closer to 1.6478 to complete wave v/ and iii. This final dip should set the stage for a corrective rally in wave iv towards 1.6706 before the final decline in wave v towards 1.6235. This should complete the first impulsive decline from 1.7929 and set the stage for a larger corrective rally.
Short-term resistance is seen at 1.6629, which ideally will cap the upside for a final dip to 1.6478. A break above 1.6629 could indicate wave iii has completed early, while a break above 1.6655 will confirm the low is in place for the corrective rally closer to 1.6706.
R3: 1.6655
R2: 1.6629
R1: 1.6603
Pivot: 1.6587
S1: 1.6555
S2: 1.6514
S3: 1.6478
Trading recommendation: We will buy EUR at 1.6480 or upon a break above 1.6655.
The material has been provided by InstaForex Company – www.instaforex.com
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