Home Featured NZDUSD Bearish Impulse Begin Final Leg

NZDUSD Bearish Impulse Begin Final Leg

0
NZDUSD Bearish Impulse Begin Final Leg


NZDUSD suggests NZDUSD is in a bearish tendency. It could take the shape of a double ZIGZAG w-x y of the degree. The current chart shows the structure of the final wave y, which is similar to the primary zigzag Ⓐ-Ⓑ-Ⓒ.

Most likely, the latest impulse wave Ⓒ is currently under development. The intermediate correction was formed (4) after the impulse decline in wave 3 (3). This structure suggests a triple-zigzag.

The currency will likely fall to a minimum level of 0.551 in the next wave (5). Sub-wave 5 will also be at the same level as intermediate impulse (3) at 76.4%.

Or, you could also assume that the market has already formed a wave actionary cycle y.

The chart’s last section shows us the formation of a bullish trend. Most likely, there is a construction of a wave Ⓐ of the primary degree. This could be in the form of an impulse from the intermediate degree (1)–(2)-(3)–(4)-(5).

The prices will eventually move back to their previous maximum of 0.646. On the chart is an estimate of future movement.

Orbex lets you test your strategy to see how the NZD does with Orbex. Open your account now. 

The post NZDUSD…



Continue reading…