Veejahbee
Short

NZDCHF SHORT-TERM DECLINE AND LONG TERM ADVANCE EW ANALYSIS

FX:NZDCHF   New Zealand Dollar/Swiss Franc
Hi traders,

The daily chart of NZDCHF shows that the uptrend from Sep. to Dec., 2018 is a textbook five-wave impulse pattern, labeled 1-2-3-4-5 of (A). According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse.
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So far, we have seen a five-wave impulse in A of (B) and double three combination ( w-x-y ) in B of (B). If this count is correct, wave A-B of (B) is completed and we can expect a short-term decline in wave C of (B) before the main trend resume in wave (C).
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Targets below 0.65164 support are plausible in wave C of (B).
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Thanks for reading!
Veejahbee.
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