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NZDUSD, Elliot Wave Analysis

12/8/2022 10:16 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 forming, within which the wave (iii) of i has formed, and a local correction is developing as the wave (iv) of i. If the assumption is correct, the NZD/USD pair will grow to the area of 0.6500–0.6600. In this scenario, critical stop loss level is 0.6149.

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