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NZDUSD, Elliot Wave Analysis

11/2/2022 11:32 AM

Growth is possible.

On the daily chart, the upward wave of the higher level (А) formed, a downward correction ended as the wave (B), and the wave (C) develops. Now, the first entry wave of the lower level i of 1 of (C) is developing, within which the wave (i) of I has formed. If the assumption is correct, after the end of the local correction (ii) of i, the price will grow to the area of 0.6166–0.6465. In this scenario, critical stop loss level is 0.5520.

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