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Elliot Wave Analysis: EURNZD Setup Update

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EURNZD 4 hourly chart above shows a sharp decline that can be seen as a five-wave impulse pattern, labeled i-ii-iii-iv-v.
According to the theory, impulses show the direction of the larger trend.
In other words, once the current corrective recovery that's unfolding as a "w-x-y" double zigzag ended, traders should expect more weakness to follow.

- The breach of the green line will confirm the correction is completed.
- Targets below wave (a) low is plausible the week ahead

What's your thought on EURNZD? Let me know in the comment.

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