Hello Traders,
We have an interesting setup on EURNZD. Between 23rd of Feb and 1st of May, we saw an upward move identified as a corrective wave ABC, with Wave C forming an ending diagonal. Recently, we saw a break of the ending diagonal pattern in wave C, setting the stage for a decline. The break of wave 1 to the downside further confirms our bearish outlook. As such I expect EURNZD to continue the downward movement.
However, if the price goes above 1.81557, my analysis of a drop will be invalid.
Cheers and happy trading!
We have an interesting setup on EURNZD. Between 23rd of Feb and 1st of May, we saw an upward move identified as a corrective wave ABC, with Wave C forming an ending diagonal. Recently, we saw a break of the ending diagonal pattern in wave C, setting the stage for a decline. The break of wave 1 to the downside further confirms our bearish outlook. As such I expect EURNZD to continue the downward movement.
However, if the price goes above 1.81557, my analysis of a drop will be invalid.
Cheers and happy trading!
Comment:
EURNZD has done +95pips since this analysis was shared.
Comment:
EURNZD has done +193Pips since this analysis was shared.
Comment:
Both harmonic and Elliott wave analysis idea of this pair show perfect confluence.
Comment:
EURNZD has now done +209pips in the projected direction.
Comment:
Update of EURNZD analysis.
