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 New Outlook - forex trading reversal signals

EurUsd New Outlook ~ forex trading reversal signals

On 4th August, I posted a forecast titled Eurusd about to complete a triangle on Eurusd based on elliot wave analysis and followed the intraday moves on the Eurusd Intraday Analysis page.

The conclusive paragraphs of this analysis are quoted below.

"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."

Price did not penetrate 1.081 but broke the triangle upside in a renewed bullish interest of a journey that is presently shy of 1.14 (about 200pips away from the stated target).

Price could continue soaring to the stated targets or beyond before the bearish trend resumes especially if the 1.1385-1.145 resistive region is penetrated.

Alternatively, further advance to the north could be resisted as price could prepare for larger triangle formation as illustrated in the chart below.

If the elliot wave scenario above is validated, price could dip from the present position in a new zigzag formation before advancing to complete the triangle after which price could continue the bearish trend.

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