Elliott Wave Free Forex Signal

Currency Pair = NZD/USD.

At previous New Zealand Dollar vs US Dollar posting,elliottwavesignal.com suggest to set Buy advise at 0.7240 area with a target of elliott wave 3 at 0.7610.

And now market is hovering at 0.7510 area,that is more than 200points from previous our entry.

Although our target is still at the end of extension of wave 3 where 150% to 161.8% of fibonacci expansion spotted,you also can take current position for a secure profit.

Or you can set a trailling stop of 30pips below current market price.

Below are an updated NZD/USD Elliott wave signal :-

ElliottwaveSignal:

Long term trade.

TimeFrame = Daily.

Signal = Buy Market advice.

Risk Reward Ratio = 2.0 (Medium-High risk) not advisable to short-term trader.

Medium term target for Minor Wave3 at 0.8000 area.

Exit at 0.7230 area

Market Complimentary of Possible of next Elliott wave :-

Next possible elliott wave could be Minor Extention wave c.
This this Trend pattern is a sub-wave of Intermdiate Extention wave 3.
As usual rules,very often wave 1 equal to wave 5 in time and price when the third wave is extended.
So keep on eyes at the and of wave 3 for a mirrowed wave 1 at wave 5.

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This entry was posted on Wednesday, June 6th, 2007 at 12:49 am and is filed under Elliott Wave Signal NZD-USD.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.