Euro / New Zealand DollarUpdated EURNZD elliot wave pattern
4th wave being formed?
short term support at 1.675
Levels that could act as end of 4th wave :
Assuming levels dont breach wave 1 (1.623) this could be in play.
short term support at 1.675
Levels that could act as end of 4th wave :
- .382 retracement of wave 2 - 3 rise (also previous resistance in september)
- .5 retracement of long term downtrend (august 2015 - feb 2017)
- .5 retracement of wave 2 - 3 rise / .382 retrace of wave 0 - 3 rise
Assuming levels dont breach wave 1 (1.623) this could be in play.
Note
Euro weakness across the board and general kiwi strength is moving this quickly towards 4th wave targets
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.