EW Update: USDZAR and EURNZD Into A Retracement, then Up

May 08,2019 01:45   Source:Forex Crunch

USDZAR made a clear five-wave rally, so pair remains bullish, but before a bullish continuation, we may see a deeper three-wave a-b-c setback, where ideal support would be around the previous wave »iv« and 14.25 level.

USDZAR, 1h

EURNZD can be already trading in an a-b-c correction, but wave »c« is still missing, so the price may still test 1.6600 psychological support level before a continuation higher. However, EURNZD is bullish as long as it keeps trading above 1.6290 invalidation area.

EURNZD, 4h

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