NZD/USD - Accelerating lower

NZD/USD accelerating lower

When the expanded triangle top broke on May 28 we knew that a important top was in place and that a strong downside pressure should be seen.

I have added the important 2x1 Gann line from the top as this should continue to act a strong resistance (I don't expected it to be tested any time soon thus) and I have added the 1x1 line from the intermediate bottom at 0.8623 as this should act as support. I do expect this line to be broken slightly by red wave iii and by red wave v before a larger correction is seen in wave iv.

Short term I expect resistance at 0.8440 will protect the upside for an acceleration lower towards 0.8239 as the next major support. That said only a break above 0.8477 will delay the downside pressure, but this outcome is by no means the preferred outcome.  

Darryl
2014-09-14
Love the good work, most accurate I’ve found in my research. Darryl
Duane
2020-03-12
Hey EWS,

I just wanted to thank you for your insight and your vision.

The Crude Oil call was spectacular as well as the SP 500 call. Just to name a few.

I appreciate all that you do.

Just...
JT
2014-06-23
Its been a pleasure over the years I have been following you and even better as a member the education you provide in my view is invaluable you can read books as I have but to see how you evolve your ...