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NZDUSD, Elliot Wave Analysis

12/14/2022 10:17 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 development of the wave (C) started. 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, a local correction has ended as the wave (iv) of i, and the wave (v) of i is developing. If the assumption is correct, the NZD/USD pair will grow to the area of 0.6600–0.6700. In this scenario, critical stop loss level is 0.6359.




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