AndyM
Short

AUDNZD prepares a big surprise. Slashing down soon.

FX:AUDNZD   Australian Dollar/New Zealand Dollar
I took a look at AUDNZD             trend of the last 4 years and saw a downward impulse in which we have completed wave 1, 2, 3 and are currently working out wave 4. Last time I looked at it I thought that wave 5 was also done, but it's not! The decline that started in Nov 2014 was actually a three, not a five. Therefore what happens now, is a counter-impulse in wave C of a flat corection that started in Jan 2014!

Expanded flats occur when the market is willing to go further down the impulse, but the timing just isn't right. So instead of wave 5 we have a zigzag in wave B, which is followed by an impulsive wave C - the latter to release the hidden counter-trend pressure. Then the impulsive movement resumes in the direction of the trend.

So what will happen soon, I hope, is much more strength in NZD which will reverse the trend.
The target point for the reversal is 1.1336, where wave C equals 1.618 of wave A.

A funny thing happened when I tried to estimate the target for the end of wave 5. I first traced a ray with my hand and release the mouse at the point where I felt the end of the trend would have the most "proportion", visually. Then I traced 0.618 of the net run of wave 1-2-3 and it landed precisely at the end of the ray that I had drawn :)
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