EURNZD and EURGBP Intra-day Updates – Elliott wave
EURNZD is usually a perfect indicator for risk-on or risk-off sentiment. Currently it’s coming nicely higher as we expected two days back, ideally within wave »c« or »iii«, while stocks are in the sharp fall. So, if it stops here around 1.76 area and turns sharply down, then stocks would probably see a recovery and risk-on may continue, but any bigger rise towards 1.77 area would mean that EURNZD is in wave »iii« within risk-off mode which would push the stocks even lower.
EURGBP is turning up after a three-wave a-b-c pullback as expected, so be aware more gains back to highs towards 0.90 – 0.91 – 0.92 area, ideally within another five-wave bullish cycle.
Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.
Find more: Contributing Author