30.11.201808:23 Forex Analysis & Reviews: Elliott wave analysis of EUR/NZD for November 30, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.