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.
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