EURNZD Bulls Are Overstaying Their Welcome
EURNZD has been in a corrective since February and seems to be topping out now.
The correction unfolded as a double zigzag pattern and the third zigzag is visible on this H4 chart above.
Wave c of (z) of 4 also unfolded as an ending diagonal which is a reversal pattern.
If this count is correct, any further rally must stay below the invalidation level on the chart and the price should head lower in a five-wave sequence.
Higher degree chart:
s3.tradingview.com/snapshots/x/X0SAc3i8.png
What's your view on EURNZD? Let me know in the comment.
The correction unfolded as a double zigzag pattern and the third zigzag is visible on this H4 chart above.
Wave c of (z) of 4 also unfolded as an ending diagonal which is a reversal pattern.
If this count is correct, any further rally must stay below the invalidation level on the chart and the price should head lower in a five-wave sequence.
Higher degree chart:
s3.tradingview.com/snapshots/x/X0SAc3i8.png
What's your view on EURNZD? Let me know in the comment.
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