GBPNZD, as can be seen in the 4H chart below, has recently been moving in a down trend within a 5 wave elliott count(wave 5 still in the making). This leads me to believe that there could be soon some good opportunity to go long this market.
I expect the price to go a bit lower for the wave 5, breaching the trendline formed by the previous lows and also testing the lower support area. When the prices reach these levels I would consider going long with a primary target at the green rectangle area and a secondary one just near the longer term highs.
Hope you find my view useful
I expect the price to go a bit lower for the wave 5, breaching the trendline formed by the previous lows and also testing the lower support area. When the prices reach these levels I would consider going long with a primary target at the green rectangle area and a secondary one just near the longer term highs.
Hope you find my view useful
