NZD/USD has made the bearish Elliott wave on the hourly time frame. The formation of the Elliott wave is complete. Here we can see 5+3=8 wave Theory so cleanly. 1 to 5 waves and then ABC correction.
It's a bearish Elliott wave pattern, and after the C, now the tren will fall up to 0.7120 - 0.7110 - 0.7085.
But what if it starts to rise?
If the trend starts to rise by crossing the resistance, then it may hit 0.7165 - 0.7185.
It's a bearish Elliott wave pattern, and after the C, now the tren will fall up to 0.7120 - 0.7110 - 0.7085.
But what if it starts to rise?
If the trend starts to rise by crossing the resistance, then it may hit 0.7165 - 0.7185.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.