NZDUSD Bearish Elliott Wave Count
After the bullish 2020, the
NZDUSD
has found support between 50-61.8% of the previous cycle (0.8840-0.54644),
for the main count, we are going to label the highs at 0.7465 as the potential end of sub-wave (A) of the larger II,
my main focus is on short positions towards the mid-channel line and 38.2-50 fibs (0.66972-0.6461).
Invalidation for the current main count would be a break above the 2011 highs (0.8840).
For Alternate count, we are going to use highs from 2021 as the end of wave II and look for bearish wave III,
In this case, also we have a more bearish bias.
NZDUSD
has found support between 50-61.8% of the previous cycle (0.8840-0.54644), for the main count, we are going to label the highs at 0.7465 as the potential end of sub-wave (A) of the larger II,
my main focus is on short positions towards the mid-channel line and 38.2-50 fibs (0.66972-0.6461).
Invalidation for the current main count would be a break above the 2011 highs (0.8840).
For Alternate count, we are going to use highs from 2021 as the end of wave II and look for bearish wave III,
In this case, also we have a more bearish bias.