Weekly chart for $EUR/NZD looks bearish with new low expected in months ahead. Wave ((x)) decline starting from 2.5804 high (Feb 2009) is unfolding in the form of double correction w-x-y where wave w ended at 1.719, wave x ended at 1.957, and multi-month wave y of ((x)) is expected to complete towards 0.8925 - 1.096.
Wave ((X)) bounce is currently in progress towards 1.558 - 1.598, then the decline should resume. As far as 1.7278 level holds in wave ((X)) bounce, expect sellers to come from 1.558 - 1.598 area to start the next leg lower in $EUR/NZD.
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Email hendra@elliottwave-forecast.com if you want to be in distribution list for Weekly, Daily, and 4 Hour Elliottwave Charts update for these 5 pairs (AUD/NZD, AUD/CAD, NZD/CAD, EUR/NZD, and EUR/CAD)
Wave ((X)) bounce is currently in progress towards 1.558 - 1.598, then the decline should resume. As far as 1.7278 level holds in wave ((X)) bounce, expect sellers to come from 1.558 - 1.598 area to start the next leg lower in $EUR/NZD.
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Follow this pair & others at Twitter: cmellon1976
Website: elliottwave-for.../amember/go.php?r=2670&...
Email hendra@elliottwave-forecast.com if you want to be in distribution list for Weekly, Daily, and 4 Hour Elliottwave Charts update for these 5 pairs (AUD/NZD, AUD/CAD, NZD/CAD, EUR/NZD, and EUR/CAD)
