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20.11.2015 07:10 AM
Elliott wave analysis of EUR/NZD for November 20, 2015

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Wave summary:

Resistance at 1.6545 was formidably proved, and a breakout below support at 1.6280 calls for one final decline closer to 1.5898 before the correction from 1.9114 finally comes to an end.

Short-term resistance is now seen at 1.6400, which will ideally protect the upside for a continuation lower towards 1.5898.

Trading recommendation:

Our stop at 1.6280 was hit for a small loss. We will sell EUR at 1.6385 with stop placed at 1.6525

Torben Melsted,
Analytical expert of InstaForex
© 2007-2025
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Torben Melsted
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