$NZD/CAD 4 Hour Elliottwave Analysis 5/25/2015
Decline from wave ((X)) high at 0.962 is proposed to be in a triple three structure (W)-(X)-(Y)-(X)-(Z) where wave (W) ended at 0.929, wave (X) ended at 0.9457, wave (Y) ended at 0.8784, second wave (X) ended at 0.9041, and wave (Z) is currently in progress.
From second wave (X) at 0.9041 high, decline in wave (Z) is unfolding in the form of a double correction where wave ((W)) is currently in progress and expected to complete at 0.8824 - 0.886, then it should bounce in wave ((X)) before the decline resumes again.
If price breaks 0.9041, this could suggest an early indication that wave w low has ended at 0.8784, and that the pair is in a larger wave x bounce to correct entire decline from 0.962 (see daily chart from related idea below) before the decline resumes. We don't like buying the pair.
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Website: elliottwave-for.../amember/go.php?r=2670&...
Send email hendra@elliottwave-forecast.com if you want to be in distribution list for Weekly, Daily, and 4 Hour Elliottwave Charts update for these 5 pairs (AUD/NZD, AUD/CAD, NZD/CAD, EUR/NZD, and EUR/CAD)
From second wave (X) at 0.9041 high, decline in wave (Z) is unfolding in the form of a double correction where wave ((W)) is currently in progress and expected to complete at 0.8824 - 0.886, then it should bounce in wave ((X)) before the decline resumes again.
If price breaks 0.9041, this could suggest an early indication that wave w low has ended at 0.8784, and that the pair is in a larger wave x bounce to correct entire decline from 0.962 (see daily chart from related idea below) before the decline resumes. We don't like buying the pair.
---------------------------------
Follow more updates at Twitter: cmellon1976
Website: elliottwave-for.../amember/go.php?r=2670&...
Send email hendra@elliottwave-forecast.com if you want to be in distribution list for Weekly, Daily, and 4 Hour Elliottwave Charts update for these 5 pairs (AUD/NZD, AUD/CAD, NZD/CAD, EUR/NZD, and EUR/CAD)
