NZD/JPY falling inside minor impulse wave C Next sell target - 76…
EUR/NZD broke support area
- EUR/NZD broke support area
- Next sell target - 1.6620
EUR/NZD continues to fall after the earlier breakout of the combined support area lying between the long-term support level 1.6920, 50-day moving average, support trendline of the daily up channel from September and the 61.8% Fibonacci correction of the previous sharp upward impulse wave (i). EUR/NZD is expected to fall further toward the next sell target at the next support level 1.6620 (low of the previous correction (ii)).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.