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    Elliott wave analysis of EUR/NZD for November 30, 2015


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    Wave summary:

    We can say a lot about this cross. A downtrend from 1.9114 persists with an ideal target seen at 1.5898 before recovery through minor resistance at 1.6377 indicating the bottom is in place and a new impulsive rally towards 1.8020 and above has begun.

    A breakout above 1.6460 will confirm the bottom and the rally to 1.8020, but for now the downtrend still dominates the picture and still calls for a test of 1.5898.

    Trading recommendation:

    We are still looking for a EUR buying opportunity at 1.5925 or upon a breakout above 1.6377 (one order done cancels the other).

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