NZDUSD Elliott Wave Analysis - Trading Lounge Day Chart

New Zealand Dollar/ U.S. Dollar (NZDUSD) Day Chart Analysis

NZDUSD Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Orange Wave 3

Position: Navy Blue Wave 1

Direction Next Higher Degrees: Orange Wave 3 (continue)

Details: Orange Wave 2 appears completed; now, Orange Wave 3 of 1 is in play.

Wave Cancel Invalid Level: 0.58511

The NZDUSD daily chart, analyzed using Elliott Wave theory, indicates a current upward trend with an impulsive wave structure in focus. The primary wave being monitored is Orange Wave 3, highlighting ongoing bullish momentum. This wave is part of a larger degree wave structure identified as Navy Blue Wave 1, suggesting that the market could be in the early stages of a longer-term upward trend.

Orange Wave 2, representing a corrective phase within this sequence, appears to have concluded. Following this correction, Orange Wave 3 has initiated, indicating that the market is experiencing an upward thrust. In Elliott Wave theory, Wave 3 is typically the most powerful and extended wave in the sequence, often leading to significant price increases.

The next higher degree wave, Orange Wave 3, is expected to maintain its upward trajectory as the market continues through this impulsive phase. The current wave count suggests that further upward movement is likely as Orange Wave 3 unfolds.

A critical level to monitor is the wave cancel invalid level at 0.58511. A drop below this level would invalidate the current Elliott Wave count, implying a possible change in the wave structure or a trend reversal.

In summary, the NZDUSD daily chart shows a strong upward trend, with Orange Wave 3 in progress following the completion of Orange Wave 2. The market is expected to continue rising as part of this Wave 3, with the invalidation level at 0.58511 being critical; a breach would indicate a potential shift in the current wave analysis.

NZDUSD-1D-Forex-Char...


NZDUSD Elliott Wave Analysis - Trading Lounge 4-Hour Chart

New Zealand Dollar/ U.S. Dollar (NZDUSD) 4-Hour Chart Analysis

NZDUSD Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Orange Wave 3

Position: Navy Blue Wave 1

Direction Next Higher Degrees: Orange Wave 3 (continue)

Details: Orange Wave 2 appears completed; now, Orange Wave 3 of 1 is in play.

Wave Cancel Invalid Level: 0.58511

The NZDUSD 4-hour chart, analyzed through Elliott Wave theory, is currently in a strong upward trend, characterized by an impulsive wave structure. The primary wave under focus is Orange Wave 3, indicating a continuation of bullish momentum. This wave is part of a larger degree wave structure identified as Navy Blue Wave 1, suggesting the market could be in the early stages of a long-term upward trend.

Orange Wave 2, representing a corrective phase within this sequence, seems to have concluded. Following the completion of this correction, Orange Wave 3 has initiated, signaling that the market is experiencing an upward movement. In the Elliott Wave sequence, Wave 3 is typically the most powerful and extended wave, often leading to significant price gains.

The direction of the next higher-degree wave, Orange Wave 3, is expected to continue its upward trajectory as it progresses through this impulsive phase. The current wave count implies that the market is poised for further gains as Orange Wave 3 develops.

A crucial level to monitor is the wave cancel invalid level, set at 0.58511. If the market drops below this point, it would invalidate the current Elliott Wave count, suggesting a potential shift in the wave structure or a reversal in the trend.

In summary, the NZDUSD 4-hour chart shows a strong upward trend, with Orange Wave 3 currently unfolding after the completion of Orange Wave 2. The market is expected to continue rising as part of Wave 3, with the key invalidation level being 0.58511, serving as a critical point in the current wave analysis.

Technical Analyst: Malik Awais

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: GBPUSD Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 170 Markets Covered. Chat Room With Support

NZDUSD-4h-Forex-Char...

Related

Microsoft Inc.(MSFT) Stocks Elliott Wave Technical Analysis: Navigating Through Corrective Patterns

Microsoft Inc.(MSFT) Stocks Elliott Wave Technical Analysis: Navigating Through Corrective Patterns

Our report on Elliott Wave analysis of Microsoft Inc. (MSFT) offers valuable guidance for traders na...

Read More >
AXIS BANK LTD. Elliott Wave Analysis: Share Price Forecast, Technical Trends, and Key Support & Resistance Levels

AXIS BANK LTD. Elliott Wave Analysis: Share Price Forecast, Technical Trends, and Key Support & Resistance Levels

AXIS BANK stock analysis using Elliott Wave theory. This article covers share price forecasts, techn...

Read More >
Bitcoin/U.S. dollar(BTCUSD) Elliott Wave Technical Analysis 23 October 23

Bitcoin/U.S. dollar(BTCUSD) Elliott Wave Technical Analysis 23 October 23

Bitcoin/U.S. dollar(BTCUSD) Elliott Wave Technical Analysis on 23 October 23 with BTCUSD Analysis Da...

Read More >
Elliott Wave Analysis & Nasdaq Tech Stocks Trading Strategies | Trading Lounge

Elliott Wave Analysis & Nasdaq Tech Stocks Trading Strategies | Trading Lounge

Market Outlook Summary: Indices Expectation: The S&P 500 and Nasdaq are anticipated to rise in th...

Read More >
Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis 14 November 23

Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis 14 November 23

Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis on 14 November 23 with 1-Hour an...

Read More >
DOW JONES (DJI) Index Elliott Wave Technical Analysis Identifies Current Market Trends Help Traders to Navigate Movements

DOW JONES (DJI) Index Elliott Wave Technical Analysis Identifies Current Market Trends Help Traders to Navigate Movements

DOW JONES (DJI) Elliott Wave Analysis identifies current market trends and wave patterns to help tra...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on