Chalfie24

EURNZD elliot wave pattern

FX:EURNZD   Euro / New Zealand Dollar
4th wave being formed?
short term support at 1.675
Levels that could act as end of 4th wave :
  • . 382 retracement of wave 2 - 3 rise (also previous resistance in september)
  • .5 retracement of long term downtrend (august 2015 - feb 2017)
  • .5 retracement of wave 2 - 3 rise / .382 retrace of wave 0 - 3 rise

Assuming levels dont breach wave 1 (1.623) this could be in play.
Comment: Euro weakness across the board and general kiwi strength is moving this quickly towards 4th wave targets
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