Hi Traders, here is my analysis for EURNZD
Technical Analysis:
Market has been gradually progressing higher over the past couple of years. Recent Price Action from a monthly perspective shows we’ve broken above a strong resistance zone at $1.77 now also acting as strong support. It's a strong possibility to see price action in the $1.86 region based on the...
The EURNZD 4 hourly chart above visualizes the advance between July and August 2. More importantly, it reveals that the rally is a textbook five-wave impulse. The pattern is labeled (i)-(ii)-(iii)-(iv)-(v).
According to the Elliott Wave principle, this means two things: first, that EURNZD is in an uptrend; and two, that a three-wave correction can be expected...
now the triangle is broken and we are on the wave 3 of the impulsive wave I am expecting the market to retest the broken line somewhere in the box that I have marked
There are several valid scenarios and non of the contradict the other one,
this is the one I think is valid
I recommend stay away from the market until it unfolds completely
We are currently observing a triangle at the 4th wave from the impulsive wave up.
couple of facts about the current move:
1- wave 3=wave 1, so it is not a strong wave 3
the triangle is quite a deep correction in this case (reached 50% retracement )
a simple fibo analysis suggest 11871 for the termination of wave 5
you can also see a strong resistance area at...
It seems that the last prediction was correct and Bitcoin is struggeling to break through 9600$
I think if BTC breaks bellow 9556$ then we are entering the correction mood. in this case wait until the correction is over and then buy
the 9556$ is predicated based on reverse RSI method
