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Elliott Wave Analysis: EURNZD Remains Bearish

Short
FX_IDC:EURNZD   Euro / New Zealand Dollar
Hello traders!

Today we will talk about EURNZD currency pair in which we see nice and clean bearish impulse in progress with room for more downside pressure, while it's trading within channel range.

As you can see, we are tracking a higher degree wave (3) that can push the price much lower, especially if we consider an extended wave 5 of (3) with room down to lower channel support line and 1.58 - 1.55 area. So, be aware of more weakness this year, just watch out for a short-term pullback in subwave "iv".

Be humble and trade smart!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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