NZDUSD 1D - Elliott Wave Analysis
Context:
NZDUSD is currently trying to rise after a sharp drop. Is this rise part of a correction or part of an upswing?
Analysis:
Based on my analysis, NZDUSD completed a five wave upswing on Mar 28, 2014, followed by an Expanded Flat abc correction ending on Apr 29. This was followed by a wave 1 which ended on May 06, which was higher than wave b of the prior correction.
The uptrend has resumed and the 1st & 2nd waves are over. The 3rd wave have started. This will be confirmed once price breaks over wave 1 high. Looking for some informative comments.
NZDUSD is currently trying to rise after a sharp drop. Is this rise part of a correction or part of an upswing?
Analysis:
Based on my analysis, NZDUSD completed a five wave upswing on Mar 28, 2014, followed by an Expanded Flat abc correction ending on Apr 29. This was followed by a wave 1 which ended on May 06, which was higher than wave b of the prior correction.
The uptrend has resumed and the 1st & 2nd waves are over. The 3rd wave have started. This will be confirmed once price breaks over wave 1 high. Looking for some informative comments.
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.