empty
 
 
29.11.2018 08:59 AM
Elliott wave analysis of EUR/NZD for November 29, 2018

This image is no longer relevant

With the break below 1.6676 it was confirmed that wave iv/ completed early and a new low below 1.6539 closer to 1.6478 should be expected in the short term. This is exactly what we have seen. A new low below 1.6539, but not yet a test of 1.6478, but we expect to see a final dip closer to this target soon to complete wave v/ and iii. This should set the stage for a corrective rally in wave iv towards 1.6767 before the final dip towards 1.6235 as the ideal target for the decline from 1.7929

R3: 1.6676

R2: 1.6628

R1: 1.6603

Pivot: 1.6587

S1: 1.6555

S2: 1.6514

S3: 1.6478

Trading recommendation:

Our stop at 1.6555 was hit. We will stay on the sideline for now.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback