Ending Diagonal Could Indicate A Turning Point On NZDUSD


NZDUSD as expected, reached a potential reversal region around 0.7008 levels in our ending diagonal pattern in the final wave C. This structure is corrective in nature so we expect in sessions ahead an impulsive move to unfold, ideally towards the mid-swing ob black wave B. This would then be the first sign of a completed correction of a higher degree as in wave IV. More weakness could the follow.

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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.