NZD/USD H4 Update

General Overview:

The bullish divergence on
Daily chart suggest the wave 3 has ended @ 0.7695 OR there is one small
degree wave missing before the corrective bounce in wave 4 will occur.

The Key Level for further upside is at Key Zone: any breakout would mean more complex and time consuming correction.


Support/Resistance:
0.8135 – Swing High
0.8000 – 0.8050 – Key Zone
0.7915 – descending trend line resistance
0.7695 – Swing Low

Trading Recommendation:
Easy
money has been done here so patience is required. More agressive
traders can go long after the low of wave 5 is confirmed with the first
target on 0.8000 zone.

Seb

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About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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