Hello traders , NZDUSD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe.
In this symbol, waves 1, 2 and 3 have been completed and now we are inside wave 4.
Wave 4 is very long in terms of time and is in normal condition in terms of Fibo.
We think this wave is complex and from this complex wave the y wave is being completed.
We are inside wave (c) of wave (y) and from this wave c, waves 1, 2, 3 are formed.
And now wave 4 has started, wave 4 according to wave 2 is probably in the form of a flat, which is long in terms of time and shallow in terms of price, and we still preferred not to specify the target.
If the Fibonacci retracement of 0.618 at the price of 0.70000 is broken upwards, it can be concluded that the correction process is complete and the leading waves are forming.
A further drop above Fibonacci 0.618 would be a very abnormal warning sign.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
In this symbol, waves 1, 2 and 3 have been completed and now we are inside wave 4.
Wave 4 is very long in terms of time and is in normal condition in terms of Fibo.
We think this wave is complex and from this complex wave the y wave is being completed.
We are inside wave (c) of wave (y) and from this wave c, waves 1, 2, 3 are formed.
And now wave 4 has started, wave 4 according to wave 2 is probably in the form of a flat, which is long in terms of time and shallow in terms of price, and we still preferred not to specify the target.
If the Fibonacci retracement of 0.618 at the price of 0.70000 is broken upwards, it can be concluded that the correction process is complete and the leading waves are forming.
A further drop above Fibonacci 0.618 would be a very abnormal warning sign.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️