EURNZD ANALYSIS

9 feb 2019

We are seeing an ABC correction after a major (12345) impulse move that finished at 1.79319 price level. Once the major 5th wave was completed at price 1.79319 we saw the first correction impulse (A) down to price level 1.63219, it considered a correction impulse because it composed of 5 waves. After correction (A) completed we saw a move towards (B). Correction (B) is composed of an abc wave pattern as shown on graph. After (B) is completed around 1.71269-1.73250 we should expect the final move of the correction being wave (C).