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.  

Hi Elliotwavesurfer,

Your forecast of the EURUSD waves and reversals on Brexit day were spot on! This was not chaos, the crowd followed a pattern!

GBPUSD was abolutely 100% too!Unbelievably accu...
Love the good work, most accurate I’ve found in my research. Darryl
Hi Surfer,

Super calls !! And analysis.

Bravo for your brexit call !!
Whats next?

Ull need to update all indices!