NZDCHF SHORT-TERM DECLINE AND LONG TERM ADVANCE EW ANALYSIS
Hi traders,
The daily chart of NZDCHF shows that the uptrend from Sep. to Dec., 2018 is a textbook five-wave impulse pattern, labeled 1-2-3-4-5 of (A). According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse.
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So far, we have seen a five-wave impulse in A of (B) and double three combination (w-x-y) in B of (B). If this count is correct, wave A-B of (B) is completed and we can expect a short-term decline in wave C of (B) before the main trend resume in wave (C).
.
Targets below 0.65164 support are plausible in wave C of (B).
.
Thanks for reading!
Veejahbee.
The daily chart of NZDCHF shows that the uptrend from Sep. to Dec., 2018 is a textbook five-wave impulse pattern, labeled 1-2-3-4-5 of (A). According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse.
.
So far, we have seen a five-wave impulse in A of (B) and double three combination (w-x-y) in B of (B). If this count is correct, wave A-B of (B) is completed and we can expect a short-term decline in wave C of (B) before the main trend resume in wave (C).
.
Targets below 0.65164 support are plausible in wave C of (B).
.
Thanks for reading!
Veejahbee.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.