EURNZD elliot wave pattern
Euro Fx/New Zealand DollarFXCM
Description
⋅ 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