Price appears to have made a 5 wave impulse for 1, and appears corrective for 2 now. If it can establish a low in the 1.49/1.48 area, there is enormous upside potential. Price appears to have already broken the long ending diagonal.
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If this maintains the bullish slant, I'll revert to the original idea that the second wave flat finished with a slight truncation at 1.5005, and we're now entering wave iii of 1 of 3.
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Here's the long-term view of eur/nzd. It's going to be a long move up
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looking for long reaction on the next low, 50 - 61.8% correction of the advance
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That's 5 down for c of C with div on the 1h. Let's see it work now.
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I caught the reaction up but it did not last for very long. I could work it as wave 4 of C, so we'll see how price reacts at the 61.8% just below
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out of an ED at 61.8%, could be in w3 now
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possible ED here
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looks like the ED is done and buys should come in with the ECB tomorrow
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any small correction on this is a buy. From the low it looks like 3 up so far, though possibly 5. I will watch for a buy on a retest of the broken channel line