NZDUSD: Elliottwave Structure expects a pullback before extension higher

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 8, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term Elliottwave structure suggests cycle from 2/29 low ended with wave ((w)) at 0.682 and pair is in wave ((x)) pullback. Internal structure of wave ((x)) is unfolding as a double three where wave (w) ended at 0.6745, wave (x) ended at 0.6815, and wave (y) of ((x)) is in progress towards 0.669 – 0.6738 area before turning higher either to new high or at least in 3 waves bounce. We don’t like selling the proposed pullback and expect buyers to appear from the above area for at least a 3

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