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Eurnzdforecast

buy #eurnzd at 1.6550 for 3 targetthis is very special the bank of NZ said friday that have a chance to cut the rate this years and the market reacted dovish for NZD and HOPE few minues after it erase all his loss and even gain more so is may due to the optimist of US-China trade talks. But anyway for me the trade talks are 75% priced by the market now so if i am wrong i think is just about my Stop loss and to enter early,as even the dairy milk data come very soft and other macro data not so good. so is a trade to try,i think even we not reach my target 3 we can still go to the 1 not so hard and put a trailing stop after. Cheers
Long
by corsicasia
EURNZD: Elliott Wave Showing Incomplete SequenceHello Traders, EURNZD short-term Elliott wave analysis suggests that the decline from 10/08/2018 peak is unfolding as Zigzag structure. Where a bounce to 1.7881 high ended black wave ((ii)), black wave ((iii)) ended in lesser degree 5 waves at 1.7528 low. Black wave ((iv)) ended at 1.7596 high. And black wave ((v)) ended at 1.7493 low which also completed the red wave 3. Up from there, a bounce to 1.7556 high ended red wave 4 bounce. Down from there, a decline to 1.7354 low ended red wave 5 & finally completed blue wave (A) in 5 waves impulse. Above from there, a bounce to 1.7587 high ended blue wave (B) bounce. The internals of that bounce unfolded as double three structure where red wave W ended in 3 swings at 1.7534 high. Red wave X pullback ended at 1.7399 low and red wave Y ended in another lesser degree 3 waves at 1.7587 high. Down from there, blue wave (C) remains in progress. Near-term, while below 1.7587 high expect bounces to fail in 3, 7 or 11 swings for more downside towards 1.7004-1.6642 100%-161.8% Fibonacci extension area of blue wave (A)-(B) to end the cycle from 10/08/2018 peak & finding buyers again. We prefer more downside against 1.7587 high.
Short
by Elliottwave-Forecast