This week the oceanic cross GBPNZD gains 0.78%. The bullish movement makes us expect fresh highs for the following trading sessions.
The relationship between price and time
The GBPNZD 2-hour chart shows an example of the relationship between price and time. In simple words, a motive wave is characterized by performing a movement of a defined range in a shorter time than the previous one. In the following chart, we observe the range between 1.86660 and 1.83687. In the first part, the decline took six days and 22 hours; while in the second part, the same extension was reached in 1 day and 22 hours.
Remember that the price is not forced to move as our outlook proposes. The charts released corresponds to an educational application of the Elliott Wave Theory. Comments issued don’t represent an investment recommendation.