FWP Network > Forexhound.com > Analysis > Forex Analysis > NZDUSD > NZDUSD Elliott Wave View: Extended Correction

NZDUSD Elliott Wave View: Extended Correction

By () · May 8, 2017 · Comments Off on NZDUSD Elliott Wave View: Extended Correction
NZDUSD · Elliott Wave Theory, ElliottWave, Forex, NZDUSD

Revised Elliott Wave view in NZDUSD suggests the decline from 3/21 high (0.709) is unfolding as a leading diagonal Elliott Wave structure where Minute wave ((i)) ended at 0.6905, Minute wave ((ii)) ended at 0.7053, Minute wave ((iii)) ended at 0.6844, Minute wave ((iv)) ended at 0.6968. and Minute wave ((v)) of A ended at 0.6835. Pair is bouncing within Minor wave B to correct cycle from 3/21 high before the decline resumes. We don’t like buying the proposed bounce and expect sellers to appear once wave X bounce is complete in 3, 7, or 11 swing provided that pivot at 3/21 high (0.709) remains intact.

←
→