Nzdyen Last Sell off Leg Imminent - real time forex trading signals

Nzdyen Last Sell off Leg Imminent ~ real time forex trading signals

The chart above shows that price is in a correction stage, wave 4 ( a probable zigzag) of an impulse cycle wave which started at 44.099 in 2009 and which is suppose to be the final advance (wave 5), of the larger term super cycle wave or part of it ( if cycle wave 5 will be extended).


Price could dip further but must be contained above 66.907 to confirm that the cycle wave from 44.099 is an impulse wave ( wave 4 must not trade in the territory of wave 1)

The chart above shows the building waves of the probable zigzag correction ( a primary wave degree). The C leg of this primary zigzag (with an extended 3rd impulse wave) is impulse, as expected, and presently congesting (a lower degree intermediate wave 4) in what looks like a triangle formation.

Price is expected to dip further to 77.11 ( 161.8% extension of primary wave A from B) but must be contained above 66.907

The chart above shows the 5-waves of the triangle. A price dip below 80.97 would confirm the end of the congestion.

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Eurusd About To Complete A Triangle - free forex trading signals software

Eurusd About To Complete A Triangle ~ free forex trading signals software

Amidst uncertainty concerning the greek bailout, the Euro which is perhaps destined for more dip does not yet look set for it. The rally from 1.045 can be said to be corrective. The questions are: what corrective pattern and when will it end to give way for the bears to take over in a move expected to break below the 1.045 mark.

I have for a long time forecast a double zigzag correction to 1.78-85 price level and price has not fulfilled it neither has it invalidated it.

The last update was on 22nd July with an article titled Watch out for Eurusd .

 

 

 

 

Along with the chart above, I wrote :

"The chart above shows two corrective waves- [w] and [x]. Wave [w] is a corrective zigzag while [w] fits a flat. 

The wave c of [x] is emerging as an ending diagonal, a tradable pattern.

If price dips a bit from the current position ( to complete the last leg of the diagonal) and break above the emerging diagonals wave iv, we should be seeing Eurusd advancing."

 

Price did dip a bit and advanced but the move was not a typical after-diagonal move and price , not getting to wave ii of the diagonal, dipped further to form what looked like another emerging pattern.

The [X] leg of the prospective double zigzag is about to complete a triangle (an elliot wave corrective pattern) and a break above the B-D triangle line will validate a move to advance Eurusd to 1.16-1.18.

 

Price is expected to complete the last leg of the triangle which should end at 1.081. A break below this level will invalidate the entire forecast.

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