EURNZD - Possibly concluding 3 year impluse

The EURNZD appears to be terminating an impulse which began three years ago nearly 10,000 pips higher. The spike on this weeks bar could potentially be the end, however the subdivisions of the current Wave 5 Blue are not readily apparent. A 15 minute view displays an obvious impulse higher. It is possible this merely the beginning of a Wave 4 Black of this Wave 5 Blue. In either case the short term momentum is higher. Therefore, I will attempt to enter into long positions at 1.6100 and 1.6035, with a stop loss at 1.5920.

NZDUSD Wave 2 higher potentially complete

The New Zealand Dollar vs. the US$ appears to have completed a three wave correction higher off its November lows. This is likely a completed Wave 2 Green higher or perhaps only a three-wave correction in a Wave A Blue higher. In either case however, prices should move lower in the short term. Currently, Wave A Blue and Wave C Blue are roughly equal, and prices are just barely above channel resistance. As the subdivisions of Wave C Blue are labeled, Wave 2 Green cannot terminate above .8045.