NZD/USD : The Next Step with the Bearish EWT
NZD/USD has made the bearish Elliott wave on the hourly time frame. The formation of the Elliott wave is complete. Here we can see 5+3=8 wave Theory so cleanly. 1 to 5 waves and then ABC correction.
It's a bearish Elliott wave pattern, and after the C, now the tren will fall up to 0.7120 - 0.7110 - 0.7085.
But what if it starts to rise?
If the trend starts to rise by crossing the resistance, then it may hit 0.7165 - 0.7185.
It's a bearish Elliott wave pattern, and after the C, now the tren will fall up to 0.7120 - 0.7110 - 0.7085.
But what if it starts to rise?
If the trend starts to rise by crossing the resistance, then it may hit 0.7165 - 0.7185.
Trade closed: target reached