EURNZD has finished a major correction. We have broken out of C leg. Add Longs on dips.
NZD is beginning to look very attractive on the short side. Target of 0.5. Do an AB = CD or anyway you cut it same target.
Break of a significant 4hr Uptrend.
This is a very corrective structure. Time to build shorts.
Sell that breakout for 75.50 - stops @ 77.50
Move begun now - much to my disbelief and took me time to realise how much the Euro is going to rally.
Fighting the urge not do something stupid - thats how good this chart is.
Same on NZDUSD.
This looks very corrective and should fail at this trend line. Not 100% certain of breakdown until the trend is broken but like the odds. NZDCAD, AUDNZD, NZDJPY & GBPNZD all at extremes. I like the NZDCAD and GBPNZD play.
In a C leg now or the B leg was an abcde. Stops at the highs.
Ties well with USDCAD strengthening to catch up with WTI and EURUSD turning lower.
Target 1.47 area.
EURO looks like it has further to run lower and Yen is at the uptrend resistance.
Thus all things lining up to suggest EURJPY is going lower. Short now or on break below.
We have broken below previous lows.
Downtrend still in tact.
At the 61% retrace level.
Suitable risk reward for a short.
Final leg of the c wave to complete B which should lead to a 1000 pip drop. Great risk reward for 1.72... 1.7120 is the stop loss.
GBPNZD - Short for 200ma on Daily - 1.8900 area - to complete C leg.
Updated Chart after ages. I believe we are in the B wave and then we ll see a deeper move lower as part of the C leg. I am unsure where the B leg will end though so will watch px closely.
Looking for the start of the C leg. Stops above 1.75.
Time for shorts here too. We are in the C leg which should move below 1.9.