This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

nzdusd elliott

The NZDUSD structure hints to a simple Ⓐ-Ⓑ-Ⓒ zigzag.

Waves Ⓐ-Ⓑ are complete whereas wave Ⓒ is still ongoing. It consists of intermediate sub-waves (1)-(2)-(3)-(4)-(5). Intermediate wave (4) completed already in a triple zigzag.

Prices are now expected to continue higher in wave (5). The short-term target is near 0.706. At that level, primary wave Ⓒ will be at 161.8% of Ⓐ.

nzdusd

An alternative scenario shows a bullish triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.

We are now in the midst of the final wave Ⓩ. This is a zigzag consisting of intermediate sub-waves (A)-(B)-(C).

With wave (A) complete, we could see a correction in wave (B) near 0.660. At that level, it will be at 61.8% of (A).

Following the correction, prices could move in wave (C) near the 0.697 area. At that level, wave Ⓩ will be at 161.8% of wave Ⓨ.

Test your strategy on how the NZD will fare with Orbex! Open your account now. 

The post NZDUSD Hints To ZigZag Completion appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.