Instaforex Analysis

[InstaForex Gertrude]

Technical analysis of EUR/USD for Nov 14, 2016

When the European market opens, some Economic Data will be released such as Industrial Production m/m and the ECB President Draghi Speaks. Today, the US will not release any Economic Data, so, amid the reports, the EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0860.
Strong Resistance:1.0854.
Original Resistance: 1.0843.
Inner Sell Area: 1.0832.
Target Inner Area: 1.0807.
Inner Buy Area: 1.0782.
Original Support: 1.0771.
Strong Support: 1.0760.
Breakout SELL Level: 1.0754.

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[IFX Yvonne]

Elliott wave analysis of EUR/NZD for November 16, 2016



Wave summary:
We continue to look for more upside towards the ending diagonal resistance line near 1.5450 and above here will call for a return to the origin of the ending diagonal at 1.5834 and above.

Short term, we expect support at 1.5010 to act as a floor for a rally above minor resistance 1.5195 and more importantly above resistance at 1.5266 for the test of the ending diagonal resistance line.

Trading recommendation:

We are long EUR from 1.4950 with stop placed at 1.4805. Upon a break above 1.5195 we will move our stop to 1.5000. If you are not long EUR yet, then buy near 1.5050 or upon a break above 1.5195 and use the same stops.

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More analysis - at instaforex.com