NZDUSD Bullish Or Bearish Triple Zigzag?

0 87

NZDUSD hints at the final part of the bullish triple zigzag formation.

After the completion of the primary intervening wave Ⓧ, which is a skewed triangle, we saw a rapid rise in the price in the last primary wave Ⓩ.

Wave Ⓩ consists of intermediate sub-waves (A)-(B)-(C). Sub-waves (A) and (B) are completed, whereas the intermediate wave (C) recently began.

We could then see the final minor correction 4 near 0.700, which is the previous minimum formed by minute ⓐ.

Finally, minor impulse wave 5 can complete the intermediate wave (C) near 0.715, where impulse wave (C) will be 76.4%.


An alternative scenario shows the primary triple zigzag has ended, with the beginning of a new bearish trend.

An intermediate impulse is forming, which includes wave (1) and wave (2).

In the next coming trading days, we could see the price drop in wave (3) below the end of the intermediate correction (B), below 0.687.

Test your strategy on how the NZD will fare with Orbex! Open your account now. 


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.