2018-11-30
Under our new preferred count we should now be in wave c of D higher towards resistance in the 130.89 - 130.99 area. Ideally the final decline in wave E will start from here, but it's possible that wave c of D extends higher to 131.89 before tuning lower in wave E.
We now see support at 128.64, which ideally will protect the downside for the next rally higher through resistance at 129.25 for the rally towards the 130.89 - 130.99 area.
R3: 130.89
R2: 130.06
R1: 129.62
Pivot: 129.25
S1: 128.84
S2: 128.64
S3: 128.22
Trading recommendation:
We are long EUR from 129.25 with our stop placed at 128.00. Upon a break above 129.30 we will move our stop higher to 123.50. We will take half profit at 130.75.
Elliott wave analysis of EUR/NZD for November 30, 2018
2018-11-30
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.
Technical analysis for Gold for November 30, 2018
2018-11-30
Gold price reached the recent highs around $1,230 again yesterday but was unable to break above resistance yet. Price is now pulling back once again confirming the importance of the short-term resistance area at $1,230.
Blue rectangle- major resistance area
Red rectangle - important short-term resistance
Green line - major trend line support
Gold price held the 61.8% Fibonacci retracement level and did not break below the green trend line support. These are two very important bullish signs. Not only that, but prices bounced strongly back towards last weeks highs at $1,230. Breaking above this resistance will be an important bullish sign for more upside. Target will then be a move to $1,250-60 at least. Major support area is now at $1,211-$1204. Breaking below this week's lows will be a bearish sign. Breaking below the green trend line support would increase the chances for a move much lower than $1,180. For now bulls keep the upper hand and as long as $1,203 holds.
Technical analysis for EUR/USD for November 30, 2018
2018-11-30
Although longer-term trend remains bearish, short-term strength in EUR/USD will challenge the medium and long-term trend. Price is challenging important resistance at 1.14-1.1470 that if broken would push prices above 1.1530-1.1550.
Red rectangle - important short-term resistance
Green line - major trend line support
Gold price held the 61.8% Fibonacci retracement level and did not break below the green trend line support. These are two very important bullish signs. Not only that, but prices bounced strongly back towards last weeks highs at $1,230. Breaking above this resistance will be an important bullish sign for more upside. Target will then be a move to $1,250-60 at least. Major support area is now at $1,211-$1204. Breaking below this week's lows will be a bearish sign. Breaking below the green trend line support would increase the chances for a move much lower than $1,180. For now bulls keep the upper hand and as long as $1,203 holds.
Technical analysis for EUR/USD for November 30, 2018
2018-11-30
Although longer-term trend remains bearish, short-term strength in EUR/USD will challenge the medium and long-term trend. Price is challenging important resistance at 1.14-1.1470 that if broken would push prices above 1.1530-1.1550.
Red line -trend line resistance
Green line- trend line support
Black dots - resistance
Red dots - major resistance level
EUR/USD is challenging the resistance trend line at 1.14. Breaking above the trend line will push price towards 1.1460-1.1470 where the major resistance is found. A rejection at current levels would be a bearish sign. Short-term support that could signal a rejection if broken would be at 1.1350. Breaking below that level will most probably push price towards the green trend line support.
Green line- trend line support
Black dots - resistance
Red dots - major resistance level
EUR/USD is challenging the resistance trend line at 1.14. Breaking above the trend line will push price towards 1.1460-1.1470 where the major resistance is found. A rejection at current levels would be a bearish sign. Short-term support that could signal a rejection if broken would be at 1.1350. Breaking below that level will most probably push price towards the green trend line support.
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