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.  

Duane
2014-05-27
Hi EWS,

Just wanted to send a word of thanks for all of the hard work that you
do, and to show you that I personally have paid for my subscription many
times over with the fantastic work that you...
Darryl
2014-09-14
Love the good work, most accurate I’ve found in my research. Darryl
Tommy
2015-02-26
Great call on nat gas

Just wanted to drop you a note to say great call on nat gas as it held 2.67

Great job.

Tommy