Looking at W1 chart we see the price broke the long term , made the first LL and is doing a pullback trying to retest the .
AO shows also the first convergence, it will help me to apply the convergence-divergence setup on D1 chart.
Here on D1 chart we see choppy price action making a complex correction for Wave 2 (or wave B). Its tricky to trade inside this wave so it will be better to wait
for a short setup, ideally near 0.9000
There is a possible long setup right now on H4 chart (see below) to make some pips before the expected strong decline.
Fundamentally, its expected the RBNZ will cut rates sooner than later in this "currency war", so the short entry would have more possibilities, be prepared for that.
Lately gold has been falling faster, but it's about to change, so the oil correlated pairs will suffer next I think.
Either way, both are correlating, and it could go up or down from here. I don't see a setup.
Did you see my audcad chart?
I think the only pairs viable for EW analysis are the ones with the biggest liquidity, speculation and human emotion driving the price, like EURUSD.
During short term events like news, people do participate more, and waves are easily predictable in lower timeframes.
Just a theory I came to consider.