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New Zealand dollar = US dollar (Elliot wave principle analysis)
The bullish market started at the price of $0.55117 which is an impulse pattern, wave (A-1) reached the high price of $0.65376 and then started to correct which is a zigzag pattern and up to the range of 38.2% to 50%. Fibonacci has been reached ($0.61135).
Question: Is the zigzag modification pattern enough for the impulse wave? bull market????
Answer: Motivation
The first possibility: the resumption of the bull market (price $0.61135)
Second possibility: continuation of the downtrend to complete the double zigzag
Good luck, more details are available in the chart, take a look guys.
Good luck, be happy and enjoy your life.
I appreciate your patronage
Hope you have a great week ahead.
New Zealand dollar = US dollar (Elliot wave principle analysis)
The bullish market started at the price of $0.55117 which is an impulse pattern, wave (A-1) reached the high price of $0.65376 and then started to correct which is a zigzag pattern and up to the range of 38.2% to 50%. Fibonacci has been reached ($0.61135).
Question: Is the zigzag modification pattern enough for the impulse wave? bull market????
Answer: Motivation
The first possibility: the resumption of the bull market (price $0.61135)
Second possibility: continuation of the downtrend to complete the double zigzag
Good luck, more details are available in the chart, take a look guys.
Good luck, be happy and enjoy your life.
I appreciate your patronage
