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Nzdchfsell

NZDCHF bounced from support, potential for a further rise! NZDCHF bounced off 0.63252 where it could potentially rise further to 0.64030. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone
NZDCHF SHORT-TERM DECLINE AND LONG TERM ADVANCE EW ANALYSISHi traders, The daily chart of NZDCHF shows that the uptrend from Sep. to Dec., 2018 is a textbook five-wave impulse pattern, labeled 1-2-3-4-5 of (A). According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse. . So far, we have seen a five-wave impulse in A of (B) and double three combination (w-x-y) in B of (B). If this count is correct, wave A-B of (B) is completed and we can expect a short-term decline in wave C of (B) before the main trend resume in wave (C). . Targets below 0.65164 support are plausible in wave C of (B). . Thanks for reading! Veejahbee.
Short
by Veejahbee