NZD/USD Elliott Wave technical analysis [Video]
|New Zealand Dollar/U.S. Dollar (NZDUSD) Day Chart.
NZD/USD Elliott Wave technical analysis
Function: Trend
Mode: Corrective
Structure: Orange Wave 2
Position: Navy Blue Wave 1
Next lower degree direction: Orange Wave 3
Details:
-
Orange Wave 1 is completed.
-
Orange Wave 2 of Navy Blue Wave 1 is nearing its end.
-
Wave Cancel Invalid Level: 0.62229.
The NZDUSD on the day chart is analyzed using Elliott Wave Theory. The analysis shows a trend, indicating an expected general movement in either an upward or downward direction over the period observed.
Currently, the trend is in a corrective mode, suggesting temporary pullbacks or adjustments against the larger trend direction. The primary focus is on Orange Wave 2, which represents a retracement or consolidation phase within the broader wave sequence.
The market is positioned in Navy Blue Wave 1, marking the initial move of a new wave sequence. The next lower degree direction is Orange Wave 3, which will commence following the completion of the ongoing corrective phase.
Detailed analysis indicates that Orange Wave 1 is now completed. Orange Wave 2 of Navy Blue Wave 1 is currently active, representing a corrective move before the next impulsive wave begins. Orange Wave 2 is nearing its end, signaling an imminent transition to Orange Wave 3.
The wave cancel invalid level is set at 0.62229. This critical threshold acts as a safeguard for the current wave count; if the market surpasses this point, the present wave structure would be invalidated, requiring a re-evaluation of the analysis.
Summary
The NZDUSD on the day chart is in a corrective phase within Orange Wave 2 of Navy Blue Wave 1. With Orange Wave 1 completed, Orange Wave 2 is nearing its conclusion, setting the stage for the subsequent impulsive phase, Orange Wave 3. The wave cancel invalid level is set at 0.62229, beyond which the current wave count would be reconsidered.
NZD/USD Elliott Wave four-hour chart
Function: Trend.
Mode: Corrective.
Structure: Orange Wave 2.
Position: Navy Blue Wave 1.
Next lower degree direction: Orange Wave 3.
Details:
-
Orange Wave 1 is completed.
-
Orange Wave 2 of Navy Blue Wave 1 is nearing its end.
-
Wave Cancel Invalid Level: 0.62229.
The NZDUSD is analyzed using Elliott Wave Theory on the 4-hour chart. This analysis indicates a trend, suggesting an expected general movement in an upward or downward direction over the observed period.
Currently, the trend is in a corrective mode, indicating temporary pullbacks or adjustments against the larger trend direction. The focus is on Orange Wave 2, representing a retracement or consolidation phase within the broader wave sequence.
The market is positioned in Navy Blue Wave 1, marking the initial move of a new wave sequence. The next lower degree direction is Orange Wave 3, which will commence following the completion of the ongoing corrective phase.
Detailed analysis reveals that Orange Wave 1 is now completed. Orange Wave 2 of Navy Blue Wave 1 is currently active, representing a corrective move before the next impulsive wave begins. Orange Wave 2 is nearing its end, signaling an imminent transition to Orange Wave 3.
The wave cancel invalid level is set at 0.62229. This critical threshold acts as a safeguard for the current wave count; if the market surpasses this point, the present wave structure would be invalidated, requiring a re-evaluation of the analysis.
Summary
The NZDUSD on the 4-hour chart is in a corrective phase within Orange Wave 2 of Navy Blue Wave 1. With Orange Wave 1 completed, Orange Wave 2 is nearing its conclusion, setting the stage for the subsequent impulsive phase, Orange Wave 3. The wave cancel invalid level is set at 0.62229, beyond which the current wave count would be reconsidered.
NZD/USD Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.