NZDUSD Short-Term Elliott Wave Analysis

By: Elliottwave-Forecast | Tue, Mar 8, 2016
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Short term Elliott Wave structure suggests cycle from 2/29 low ended with wave ((w)) at 0.682 and pair is in wave ((x)) pullback. Internal structure of wave ((x)) is unfolding as a double three where wave (w) ended at 0.6745, wave (x) ended at 0.6815, and wave (y) of ((x)) is in progress towards 0.669 - 0.6738 area before turning higher either to new high or at least in 3 waves bounce. We don't like selling the proposed pullback and expect buyers to appear from the above area for at least a 3 waves bounce as far as 0.656 pivot stays intact.

NZDUSD Elliott Wave Analysis Chart
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Author: Elliottwave-Forecast

Elliottwave-Forecast (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

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