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26.11.2014 01:11 PM
Elliott wave analysis of EUR/NZD for November 26 - 2014

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Today's support and resistance levels:

R3: 1.6004

R2: 1.5993

R1: 1.5972

Current spot: 1.5944

S1: 1.5917

S2: 1.5878

S3: 1.5849

Technical summary:

The correction we where looking for towards 1.5805 is currently unfolding. Short term, we expect minor resistance at 1.5972 will protect the upside for a break below minor support at 1.5917 and more importantly below support at 1.5878 confirming the decline to 1.5805, before this correction is over.

Trading recommendation:

We are looking for a EUR-buy possibility near 1.5805.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2025
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