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Elliott Wave Analyst

NZD/USD: bears going to deliver wave (i)

NZD/USD: bears going to deliver wave (i)

It seems like wave [ii] has been ended in a form of a zigzag, so there’s a possibility to have a downward impulse in wave (i). The nearest bearish target is 5/8 Murrey Math Level (P=200). If the price breaks this level, bears will likely going to deliver a deeper impulse.

NZD/USD: bears going to deliver wave (i)

As we can see on the one-hour chart, we’ve got a “Diagonal Triangle” in wave v of (c). Therefore, wave (i) is likely going to move on. The main bearish target is 4/8 Murrey Math Level (P=200).

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