The RBNZ on their last meeting started the tapering program so that a bullish move for the NZD hence after tapering its rates hike. on the bigger structure the market is completing a WXY patterns that's in the same direction as the fundamental outlook. Note any correction will offer short term buys and any positive developments in the economic data should fuel the...
The daily chart of EUR/USD has formed a Full Elliot Wave.
As per our analysis,as long as the the price point A withholds,we expect the pair to make the ABC correction in the form of a triangle.
When it breaks the support level of 1.15088,we expect a fresh leg of downside, in the form of an Elliot Wave, in the counter.
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Look for one of the following scenarios to play out. We may get a longer correction. in the overall Uptrend or we may start going back to meet the previous top before a selling opportunity presents itself.
Euro like other pairs is moving sideways, and price may still go up temporarily, revisiting 1.1185 or maybe reaching 1.1230 before going down.
But if EURUSD manages to break below its corrective channel, chances are, bears are back again.
Like Gold, Silver rallied as high as 21.10 before it turned down. Currently, price is trading sideways which may go as low as 19.00 area.
A break out from its corrective channel will signal that this metal is back to being bullish once again.
