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GBPNZD Forecasting Rally Based on Bullish Sequence

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GBPNZD Forecasting Rally Based on Bullish Sequence

In this technical blog were going to take a quick look at the past Elliott Wave charts of GBPNZD published in members area Were going to explain the Elliott Wave forecast and our trading strategy

As our members know , we were pointing out that GBPNZD is trading within larger bullish trend. The pair is showing incomplete bullish sequences in 2 cycles of larger degrees: from the November 2016 and June 2017 lows. Consequently , we advised our members to avoid selling it,and keep buying the dips in 3,7,11 swings when get chance.

Lets take a look at the previous short term Elliott Wave forecasts.

GBPNZD 1 hour Asia update 11.28.2017

As we can see on the charts bellow wave ((x)) back is in progress, correcting the short term cycle from the 1.878 low. Proposed pull back is unfolding as Double Three structure (w)(x)(y), when were already in (y) leg lower. More precisely were in 7th swing from the peak that is looking for 1.9136-1.8996 area to complete proposed pull back. We dont recommend selling the pair and favor buying the dips at the mentioned area. Invalidation for the long positon is break below 1.8996.


GBPNZD 1 hour New York Midday update 11.28.2017

Shortly after we got proposed leg lower toward our buying zone. Short term sellers broke little bit below 1.236 fibonacii extension level:1.9100, however buyers appeared immediately and the price has made sharp rally from there. Were getting nice reaction so far and calling pull back ((x)) completed at 1.90749 low. Long positions are already risk free.


GBPNZD 1 hour London update 11.30.2017

1.90749 low held nicely during short term pull back and we got further rally. Buyers were strong enough to break the price above previous peak, reaching important technical area : 1.98284 where buyers will be taking profits.
Note: we have removed some lables on the chart below, in order to protect clients privileges. Keep in mind market is very dinamic and view could have ended in meantime. If youre interested in new Elliott Wave forecasts of GBPNZD you can find them in the membership areaof EWF.


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About the author  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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