FX:NZDCAD   New Zealand Dollar/Canadian Dollar
I have W, X, Y'd this thing out the ying yang and looked at the different possible combo patterns. It is at the 200 MA on the daily and the weekly and we could have a huge flat pattern in which the last wave of this C-leg would extend to that 618 as I show.... If it is to come down from here in a 5 wave, I would expect this last wave to extend 1.618 the total length of waves 1-3 since wave 3 was short relative to wave 1. This is a high time frame trade and I do see the possibility of a spike up and there is the possibility of it correcting up in a larger 3 wave, but considering everything I feel it most likely to continue down trend. It broke the high at 38% of 3rd wave, so the question is do we have an expanded flat here? If so, a lot of downside. Major Cad news tomorrow, it is on the way down as of right now.
Remy Martin (pipdr)
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