Long term trade.
TimeFrame = Weekly.
Signal = Sell at market Price.
Risk Reward Ratio = >10.0 (Low Risk Trade)
Our Long term target for Minor Wave Degree (wave C) at 0.8400 area as our target profit.
Exit at below 0.7000 area.
This is our larger Long term trade analsysi with weekly time frame to indicate Major trend for NZD/USD currency pair.
From our Elliott Wave Analysis , there is an opportunity for NZD/USD to move higher than previous high at 0.8106 which is our wave A of Major correction pattern.With the support intact at 0.6860 area, we could project our next target at 138.2% of fibonacci expansion at 0.8416 area.That will be our 1st target.
Below is our illustrated Elliott wave analysis for NZD/USD for the long run :
From: Elliot Waves Prognosis