In the AUDNZD chart above, the price moved down in five waves from the high. According to Elliot Wave theory, a three-wave correction follows every impulse (five-waves) pattern.
In AUDNZD's case, the subsequent move took the form of a w-x-y double zigzag pattern which means that an impulse-corrective cycle is completed.
We can now expect the price to continue in the direction of the impulse move.
What's your thought on AUDNZD?
In AUDNZD's case, the subsequent move took the form of a w-x-y double zigzag pattern which means that an impulse-corrective cycle is completed.
We can now expect the price to continue in the direction of the impulse move.
What's your thought on AUDNZD?