Price since April 21 2021 to December 20 2021 has been in a Elliot corrective zigzag pattern, a 5-3-5 ((A)-(B)-(C)) as indicated in the above chart, Its clear to say the corrective phase is complete. Price broke out of it while forming a clear Elliot bullish five wave pattern wave i,ii and iii and its now retesting the broken zone as per normal price behavior...
I think we are in a Motive Bullish Leading Diagonal and we are currently completing our 3 wave when it liquidates the structure acting as resistance while hitting 0.718 fib. After that i think price may form a 3 wave down in forming its wave 4.
Disclaimer
This is not financial advice
Long term i am bearish on AUDNZD from the daily timeframe we can see that we have been in a corrective wave since Aug. 12 2020. We are in a wave 2 of a 5 wave bullish impulse to the upward , as seen wave (1) was already formed we are now forming a corrective wave (2).The corrective being formed is WXY correction which is 3-3-3 pattern combination as you...
I think the Dollar Index will hit 95.051 or overshoot the channel, then drop to my target zone price of 86.708 and 85.735. This is as simple as it is,a crash on Dxy is coming.
DISCLAIMER
This is not financial advise. Financial instruments are very risky please do your own analysis before considering mine.
