Elliott Wave Analysis: NZDUSD Unfolding As A Three Wave Movement; 0.73100 In View

Gregor Horvat Wavetraders

NZDUSD has turned strongly to the upside last week, with price that moved slightly above the resistance line which suggests that we could see more upside if we consider that turn up from 0.7034 was made in impulsive fashion. We see that as first wave A)/1) as part of a minimum three wave advance that can take price back to 0.7300 area, after current wave B)/2) is finished. But as things stand at the moment, we can expect a bullish leg to unfold in the next few sessions.

NZDUSD, 4H

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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