Friday, September 16, 2011

NZDUSD Wave 3 of 3 just ahead?

NZDUSD may be completing it's second wave  after which an extremely powerful decline in a Wave 3 of 3 should unfold. The subdivisions of wave C of 2 Green are not entirely clear. Therefore as long as there is not a close significantly above the 110 period moving average on the 4 hour chart, I believe this count is still valid. If this count is correct the completion of Wave 3 Red should result in the NZDUSD falling to a minimum of .7150.

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