Elliott Wave Analysis On NZDUSD And Crude OIL

By: Gregor Horvat | Tue, Aug 30, 2016
Print Email

NZDUSD

Our NZDUSD is in the corrective pullback and we expect higher prices at least to the levels where our Fibonacci ratio of 38.2 lays. Resistance levels for the red wave 2 would then come in around 0.7269 and maybe 0.7289 area from where we would expect beginning of the third wave to the downside.

NZDUSD, 1H

NZD/USD 1-Hour Chart


Crude OIL

On the 1h chart we see that, OIL is still trading in the sideways price action. We expect to see lower levels ahead to complete black wave C in the red wave 4) of a higher degree. Currently we see only two completed legs, A and B and we expect one more leg to complete around the 45.60-80 region. Since we labeled possible lows on mentioned levels with a red wave 4), this means we expect new high in the red wave 5 on this commodity.

Crude OIL, 1H

Crude Oil 1-Hour Chart

 


Interested in our services? We have a Special Offer: Get 1 Month Access For 1€!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast

 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

EW-Forecast: To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!

Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.

Copyright © 2013-2017 Gregor Horvat

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com