NZD/USD - Top final in place?NZD/USD - Finally at the top?

NZD/USD Finally at the top?

First looking at the daily chart we are just a few pips away from the August 2011 high at 0.8843. If we then zoom in on the price action since February 2014 we can see a clear five wave rally is wave C of Y. If we measure the distance from the bottom of wave 1 to the top of wave 3 and calculates 61.8% of that distance and add this to the bottom of wave 4 then we get a target of 0.8836 (just below the August 2011 high). This cluster of targets should be able to protect the upside, but then I would like to see some evidence of a possible top and the first thing would be a strong reversal lower through support at 0.8775 and more importantly below support at 0.8708 confirm that a top is in place.

By the way, the 61.8% target was tested in early trading today, so keep a close eye on this cross for signs that a top might be in place.  

Darryl
2014-09-14
Love the good work, most accurate I’ve found in my research. Darryl
Felipe
2014-05-26
Hi,

I recently tried a 30 day membership and I am very happy with the service. Pls keep up the great work!!! I will continue renewing!!

Felipe
Duane
2018-03-03
Hey EWS,

I just wanted to thank you for posting your charts. They are of great help to me. Your charts are a great teaching aid for learning Elliott Wave.

Duane