NZD/USD turned sharply higher in May, which now looks like an impulsive price move from the low at 0.6816 that is seen as wave A of a big three wave recovery. Ideally, wave A is now trading in final stages, so be aware of a new bearish retracement that may follow lower into B-wave, after red sub-wave 5) unfolds. Be aware, current price activity already reached Fibonacci ratio of 161.8, which means a reversal can unfold in the next couple of trading sessions.
NZD/USD, 4H
Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.
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