| Elliott wave analysis of EUR/JPY for November 21, 2018 2018-11-21 
We continue to look for more downside towards 123.66 to complete wave (E) of the huge triangle consolidation, that has been ongoing since July 2008. A break below minor support at 127.85 will confirm renewed downside pressure towards 126.62 and 124.89 on the way lower to the ideal target at 123.66 where a long-term bottom is expected for the next impulsive rally. R3: 130.13 R2: 129.40 R1: 129.06 Pivot: 128.90 S1: 128.40 S2: 128.00 S3: 127.74 Trading recommendation: We are short EUR from 128.75 with our stop placed at 129.75. Upon a break below 127.74 we will lower our stop to 129.10. Elliott wave analysis of EUR/NZD for November 21, 2018 2018-11-21 
Wave iv/ is developing and we are currently looking for a break above minor resistance at 1.6767 to confirm the next corrective push higher towards at least 1.6914 and more likely closer to resistance at 1.7023. Short-term support is seen at 1.6643, which is expected to be able to protect the downside for the break above minor resistance at 1.6767. R3: 1.6836 R2: 1.6767 R1: 1.6731 Pivot: 1.6706 S1: 1.6643 S2: 1.6570 S3: 1.6561 Trading recommendation: We are long EUR from 1.6706 and we have placed our stop at 1.6555. Upon a break above 1.6767 we will move our stop higher to break-even. Technical analysis for Gold for November 21, 2018 2018-11-21 Gold price made a higher high yesterday at $1,228.40 exactly at the 78.6% Fibonacci retracement and got rejected. Price has pulled back towards $1,220 and the RSI is showing bearish divergence signs. 
Red rectangle - major resistance area Blue lines - bearish divergence Green line - trend line support Gold price is trading at important resistance area according to our Fibonacci levels. The RSI bearish divergence gives us a warning strengthening our expectations for a bearish reversal in Gold prices. Support is at $1,219. Major support is at the green trend line and rising at $1,204. Breaking below the green trend line will confirm our bearish view. Stop for bears is at the red resistance area. They do not want to see that level broken. In the short-term we could see another minor new higher high towards $1,230-33. If this higher high gives us a lower RSI high, bulls need to be very careful as it will increase the chances of a bearish reversal. Technical analysis for EUR/USD for November 21, 2018 2018-11-21 As expected the EUR/USD pair has reversed from 1.1450-1.15 back below 1.14. This is a bearish sign. However short-term trend remains bullish and will only change on a daily close below 1.1350. 
Blue line - important support trend line Black dots - medium strength resistance Dark blue dots -maximum strength support EUR/USD tried to break out of the bearish channel yesterday but got rejected and price came back down. Resistance is at 1.1430-1.1450 area and support at 1.1350-1.1330. Breaking below support will increase the chances of success of our bearish longer-term view. As long as price holds above the trend line, bulls remain in control. Next target is at 1.15. If however price breaks below 1.1350-1.1330 support area we should confirm a top is in and we are starting the next leg down.
Author's today's articles: Torben Melsted  Born in November 1962. Graduated from CBS, got Diploma in Finance. Began trading on Forex in 1986 and since that time held various positions such as advising clients, hedging client flows on FX and commodity markets. Also worked for major corporations as Financial Risk Manager. Uses Elliott wave analysis in combination with classic technical analysis, and has been using a Calmar Ratio of 5.0 for over 3 years. Has his own blog, where he uses Elliott wave and technical analysis on all financial markets. Alexandros Yfantis  Alexandros was born on September 14, 1978. He graduated from the ICMA Centre, University of Reading with the MSc in International Securities, investment and Banking in 2001. In 2000, Alexandros got the BSc in Economics and Business Finance from Brunel University, UK. In 2004, he began trading on the Greek stock market, where Alexandros got a specialization in international derivatives. Alexandros Yfantis has worked in a top financial company in Greece, responsible for the day-to-day running of the International markets department. He is a certified Portfolio Manager and a certified Derivatives Trader. Alexandros is also a contributor and analyst using Elliott wave and technical analysis of global financial markets. In 2007, he started Forex trading. He loves his profession and believes that entering a trade should always be accompanied by money management rules. His goal is to find profitable opportunities across the markets while minimizing risk and maximizing potential profit. "I'm still learning" Michelangelo
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Fundamental analysis, Fractal analysis, Wave analysis, Technical analysis, Stock Markets
Author's :
Alexandros Yfantis, Arief Makmur, Dean Leo, Harsh Japee, Michael Becker, Mohamed Samy, Mourad El Keddani, Petar Jacimovic, Rocky Yaman, Sebastian Seliga, Torben Melsted
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