$AUD/NZD 4 Hour Elliottwave Chart 5/23/2015 update
Decline to 1.00 completed a Daily target of wave V of (c) - (See related ideas below).
Wave ((w)) rally from 1.00 took the form of double correction of (w)-(x)-(y) and ended at 1.0895. Wave ((x)) pullback is now in progress and has a scope to go to as low as 1.0337 - 1.044 before the rally resumes.
Short term, wave (w) is expected to complete at 1.0623 - 1.066. Expect buyers to come from this area and push the pair higher in wave (x) in 3 waves at minimum before turning lower towards 1.034 - 1.044 to complete wave ((x)). We don't like selling the pullback in wave ((x))..
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Follow this pair & others at Twitter: cmellon1976
Website: elliottwave-for.../amember/go.php?r=2670&...
Email any inquiry to hendra@elliottwave-forecast.com
Wave ((w)) rally from 1.00 took the form of double correction of (w)-(x)-(y) and ended at 1.0895. Wave ((x)) pullback is now in progress and has a scope to go to as low as 1.0337 - 1.044 before the rally resumes.
Short term, wave (w) is expected to complete at 1.0623 - 1.066. Expect buyers to come from this area and push the pair higher in wave (x) in 3 waves at minimum before turning lower towards 1.034 - 1.044 to complete wave ((x)). We don't like selling the pullback in wave ((x))..
---------------------------------
Follow this pair & others at Twitter: cmellon1976
Website: elliottwave-for.../amember/go.php?r=2670&...
Email any inquiry to hendra@elliottwave-forecast.com
