AUDNZD has just completed a 5-3 "impulse-correction" wave cycle.
The correction unfolded as an a-b-c zigzag with ending diagonal pattern in wave c. What's most interesting is how it completed the right shoulder of the H&S pattern at the support zone.
Once a 5-3 pattern is completed, the trend resumes in the direction of the impulse, which is bullish in AUDNZD's case.
What's your view on AUDNZD?
The correction unfolded as an a-b-c zigzag with ending diagonal pattern in wave c. What's most interesting is how it completed the right shoulder of the H&S pattern at the support zone.
Once a 5-3 pattern is completed, the trend resumes in the direction of the impulse, which is bullish in AUDNZD's case.
What's your view on AUDNZD?