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Wave analysis

29.11.202306:57 Forex Analysis & Reviews: Elliott wave analysis of EUR/USD for November 29, 2023

There was no time for a second dip to just below 1.0898. EUR/USD moved directly above the neckline resistance at 1.0965 and thereby triggered the Shoulder/Head/Shoulder bottom for a continuation higher towards 1.1278 and 1.1469 as the S/H/S-bottom target.

We should expect resistance at 1.1054 being able to halt the advance temporarily for a re-test of the S/H/S-bottom neckline before moving higher again, but it's not a necessity.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Torben Melsted,
Analytical expert of InstaSpot
© 2007-2025
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