Mon, Dec 30, 2024 @ 23:15 GMT
Facebook Mail RSS Twitter
HomeContributorsTechnical AnalysisNZDUSD Undergoing A Temporary Three Wave Recovery

NZDUSD Undergoing A Temporary Three Wave Recovery

Elliott Wave Financial Service
By Elliott Wave Financial Service

NZDUSD is making an intra-day rally from the lows, where previous five wave movement has ended. That said, current rally can now be part of a three wave contra-trend reaction that can in sessions ahead find some resistance around the Fibonacci ratio of 50.0/61.8 and near the previous swing high of wave four at 0.7269. Around the mentioned area a new reversal lower can begin.

NZDUSD,1H

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Load more

Learn Forex Trading

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.

Contact us: contact@actionforex.com

© ActionForex.com © 2024 All rights reserved.