Hello traders! Today we will talk about EURNZD which has pretty clear pattern.
When using the EW, everyone can count up to five, but only few analysts have the right approach and this experience can only be gained through multi-year practice.
Well, looking at EURNZD, we can clearly see a big impulsive five-wave drop away from 1.7930 highs into a wave A, which means that the trend is currently bearish, but before a bearish continuation, EURNZD must first finish a big three-wave a-b-c corrective rally in wave B that can find resistance ideally around 61,8% Fibonacci retracement and around 1.73 – 1.74 levels!
That said, we believe that wave c/B is still missing, which should be made by five waves, so don't be surprised if EURNZD starts to rise sharply in the next few days/weeks. But, you know where is the limit and till then, there's room for 600-700 pips, so maybe would be nice to catch some longs since we have seen a sharp bounce in the last couple of days that can be the beginning of a five-wave rally for wave c/B!
Remember, the major trend remains bearish as long as the price trading below 1.7930 highs! We are currently just observing a bigger correction which may become even more complex, so any earlier sharp decline back to 1.6330 lows would be an indication that correction could be already completed!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
When using the EW, everyone can count up to five, but only few analysts have the right approach and this experience can only be gained through multi-year practice.
Well, looking at EURNZD, we can clearly see a big impulsive five-wave drop away from 1.7930 highs into a wave A, which means that the trend is currently bearish, but before a bearish continuation, EURNZD must first finish a big three-wave a-b-c corrective rally in wave B that can find resistance ideally around 61,8% Fibonacci retracement and around 1.73 – 1.74 levels!
That said, we believe that wave c/B is still missing, which should be made by five waves, so don't be surprised if EURNZD starts to rise sharply in the next few days/weeks. But, you know where is the limit and till then, there's room for 600-700 pips, so maybe would be nice to catch some longs since we have seen a sharp bounce in the last couple of days that can be the beginning of a five-wave rally for wave c/B!
Remember, the major trend remains bearish as long as the price trading below 1.7930 highs! We are currently just observing a bigger correction which may become even more complex, so any earlier sharp decline back to 1.6330 lows would be an indication that correction could be already completed!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Get the full Elliott Wave count at WaveTraders, €20 first month >> @ wavetraders.com/
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.