EURNZD: Preparing for a larger descent
Aktualisiert
Hello Traders,
We have an interesting setup on EURNZD. Between 23rd of Feb and 1st of May, we saw an upward move identified as a corrective wave ABC, with Wave C forming an ending diagonal. Recently, we saw a break of the ending diagonal pattern in wave C, setting the stage for a decline. The break of wave 1 to the downside further confirms our bearish outlook. As such I expect EURNZD to continue the downward movement.
However, if the price goes above 1.81557, my analysis of a drop will be invalid.
Cheers and happy trading!
We have an interesting setup on EURNZD. Between 23rd of Feb and 1st of May, we saw an upward move identified as a corrective wave ABC, with Wave C forming an ending diagonal. Recently, we saw a break of the ending diagonal pattern in wave C, setting the stage for a decline. The break of wave 1 to the downside further confirms our bearish outlook. As such I expect EURNZD to continue the downward movement.
However, if the price goes above 1.81557, my analysis of a drop will be invalid.
Cheers and happy trading!
Anmerkung
EURNZD has done +95pips since this analysis was shared.Anmerkung
EURNZD has done +193Pips since this analysis was shared.Anmerkung
Both harmonic and Elliott wave analysis idea of this pair show perfect confluence.
Anmerkung
EURNZD has now done +209pips in the projected direction.Anmerkung
Update of EURNZD analysis.Anmerkung
UPDATE: EURNZD has done +340 pips since this trade idea was shared. I hope everyone profited from this trade idea.
Cheers!
Anmerkung
UPDATE: EURNZD delivering as anticipated. About +360pips done.Trade geschlossen: Ziel wurde erreicht
Trade geschlossen: Ziel wurde erreicht
Done
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