Short term Elliott Wave view in NZD/USD suggests that rally to 0.637 ended wave 1. Pair is now doing wave 2 pullback to correct cycle from 10.26.2023 low. Internal subdivision of wave 2 is unfolding as a zigzag Elliott Wave structure. Down from wave 1, wave (i) ended at 06325 and rally in wave (ii) ended at 0.636. Pair then resumes lower in wave (iii) towards 0.6218 and wave (iv) rally ended at 0.6285. Final leg down wave (v) ended at 0.618 which completed wave ((a)).
Wave ((b)) correction ended at 0.6278 with internal subdivision as a zigzag. Up from wave ((a)), wave (a) ended at 0.6277, wave (b) ended at 0.6195, and wave (c) higher ended at 0.6278. This completed wave ((b)) in higher degree. Pair has resumed lower in wave ((c)). Down from wave ((b)), wave i ended at 0.622 and wave ii ended at 0.6242. Wave iii lower ended at 0.618 and wave iv ended at 0.62036. Expect wave v lower to end soon which should complete wave (i). Pair should then rally in wave (ii) to correct cycle from 1.12.2024 high in 3, 7, or 11 swing before pair resumes lower. Near term, as far as pivot at 0.637 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
NZD/USD 60 minutes Elliott Wave chart
NZD/USD Elliott Wave video
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Recommended Content
Editors’ Picks
AUD/USD drops further to 0.6250 amid mounting trade war fears
AUD/USD extends losses to test 0.6250 amid mounting trade war fears, fueled by US President Trump's tariff plans. Furthermore, RBA rate cut bets, China's economic woes and a modest US Dollar strength amid risk aversion drag the Aussie away from over a one-month peak.
USD/JPY regains 155.50 as Trump's tariff plans boost US Dollar
USD/JPY builds on the overnight bounce from a six-week low and regains 155.50 in Tuesday's Asian trading.Softer Japanese service-sector inflation data provided extra legs to the pair's recovery. Moreover, US President Donald Trump's tariff plans-led USD strength underpins USD/JPY.
Gold down but not yet out as Trump and Fed grab attention
Gold price licks its wounds following the sharp pullback from three-month highs just shy of the all-time peak of $2,790. Gold trades take account of the latest tariff talks by US President Donald Trump and his administration as attention turns toward mid-tier US economic data and Federal Reserve policy announcements.
Ripple's regulatory approvals from New York and Texas fail to boost XRP price
XRP briefly slipped below $3.00 on Monday following Ripple's announcement that it has obtained Money Transmitter Licenses in New York and Texas, permitting customers in the region to enjoy its services.
What is DeepSeek, and why is it important?
Several Chinese companies pivoted into making their various AI model offerings open source last week, sending shockwaves through the tech sector. Chinese tech startups look set to disrupt the AI space, which has, until recently, been almost singularly dominated by high-priced US tech giants and soaring valuations.
Trusted Broker Reviews for Smarter Trading
VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.