EURNZD is one of the FX charts with a clear Elliot Wave structure at the moment.
The decline from the high took the shape of a classic Elliot Wave impulse pattern, labeled i-v.
According to EW theory, a three-wave correction in the opposite direction follows every impulse pattern. That's why we're anticipating at least a-b-c zigzag move to the upside.
However, once the correction is completed, the major trend resumes in the direction of the impulse, which is bearish in the EURNZD case.
Trade Idea:
- Short-term buy from or below the current level
- Longterm short once we see at least three-wave move to the upside.
The decline from the high took the shape of a classic Elliot Wave impulse pattern, labeled i-v.
According to EW theory, a three-wave correction in the opposite direction follows every impulse pattern. That's why we're anticipating at least a-b-c zigzag move to the upside.
However, once the correction is completed, the major trend resumes in the direction of the impulse, which is bearish in the EURNZD case.
Trade Idea:
- Short-term buy from or below the current level
- Longterm short once we see at least three-wave move to the upside.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.