empty
 
 
04.11.2015 06:39 AM
Elliott wave analysis of EUR/NZD for November 4 - 2015

This image is no longer relevant

Wave summary:

We continue to look for confirmation that wave 2 is over and wave 3 higher has taken over. The bottom could be well in place at 1.6124. Then we need a break above resistance at 1.6515 to indicate this is the case for a rally higher to 1.6950 and above higher, which will confirm the bottom for a rally much higher.

We have seen a new test of resistance at 1.6515 (the high has been 1.6508), but only a break above 1.6515 will indicate that we did indeed see a firm bottom at 1.6124.

Trading recommendation:

We will buy EUR at 1.5900 or upon a break above 1.6515 (one order done cancels the other).

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