NZDUSD Setting the Stage to Complete the Impulse Wave
The advance from October 2019 low can is taking the form of an impulsive Elliot Wave pattern, labeled 1-5. Wave 3 also subdivided into five-wave labeled (i)-(v).
To complete the major structure wave 4 and wave 5 are required. Price is expected to complete wave 4 correction around 38.2% Fib, which also lined up with channel support.
Once wave 4 is bottomed, an advance in wave 5 will complete the whole impulse structure.
Bottom Line: I will be looking to go long wave 5.
What's your view on NZDUSD?
To complete the major structure wave 4 and wave 5 are required. Price is expected to complete wave 4 correction around 38.2% Fib, which also lined up with channel support.
Once wave 4 is bottomed, an advance in wave 5 will complete the whole impulse structure.
Bottom Line: I will be looking to go long wave 5.
What's your view on NZDUSD?
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