Elliott Wave Analysis On NZDUSD And GOLD
Elliott Wave Analysis On NZDUSD And GOLD
Good morning everyone!
Markets remain on the side of the USD, which strong momentum seen this morning across the board as metals keep falling while crude oil is now also turning down. Stocks did not go far for the last few sessions, and it will likely stay like that till tomorrows NFP release.
We remain short on NZDUSD from 190 pips higher and will stick to this trade for now after that sharp leg down from 0.7310 which can be wave three headed to 0.7100 or even to 0.7000 if shape remains extended.
NZDUSD, 1H
GOLD
Gold is trading nicely down this week, clearly with an impulsive personality, currently in extended blue wave three which may find a support soon as we see five sub-waves down from 1330. That said, corrective bounce may show up in the short-term, back to 1276 before going even lower into wave five.
GOLD, 1H
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