Elliott Wave Analysis: NZDUSD Impulsively Aiming For 0.7000


On the NZDUSD we are observing a nice higher degree impulse taking place, that could be trading in final stages, now specifically in a temporary pullback in wave 4). Normally wave four correction retrace for 38.2% compared to wave 3), and only to the starting point of wave four of a lesser degree and not to the end of wave four when the fifth wave is extended like in our case down from the 0.7227 mark. Ideally market will rise up to 0.7150/70 area from where price will break down sharply into wave 5) towards 0.7000.






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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.