10Jul

NZDUSD Elliott Wave Technical Analysis: New Zealand/ U.S. Dollar Forex Reveals a Strong Bullish Trend on both the Daily and 4-hour charts

NZDUSD Elliott Wave Analysis - TradingLounge Day Chart 

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

NZDUSD Elliott Wave Technical Analysis

FUNCTION: Bullish Trend

MODE: Impulsive

STRUCTURE: Orange Wave 3

POSITION: Navy Blue Wave 1

DIRECTION NEXT LOWER DEGREES: Orange Wave 4

DETAILS: Completion of Orange Wave 2 confirmed; Orange Wave 3 currently advancing.

Wave Cancel Invalid Level: 0.58854

The daily NZDUSD chart reflects a clear bullish Elliott Wave structure. Currently, price action demonstrates an impulsive movement, attributed to orange wave 3, nested within navy blue wave 1. This setup signals the early phase of a potentially broader bullish trend.

The next anticipated move is a corrective orange wave 4, following the current progress of wave 3. Recent indicators confirm the end of orange wave 2, allowing wave 3—the most dynamic in Elliott Wave theory—to develop. The strength of the impulsive wave suggests solid bullish momentum driven by consistent buying interest.

The key invalidation level is set at 0.58854. A drop below this mark would invalidate the current wave interpretation and may imply a trend reversal. So long as the price remains above this threshold, the market retains a bullish bias, with expectations of continued impulsive action.

Upon completion of orange wave 3, orange wave 4 should emerge as a corrective phase. Monitoring the daily chart provides macro-level insights into NZDUSD’s direction, helping traders focus on more strategic, trend-aligned decisions.

Wave 3 historically produces the most powerful market moves in Elliott Wave sequences. As this pattern unfolds, closely observing price levels becomes crucial for identifying key trading opportunities and resistance zones.

NZDUSD-Day-Forex-Cha...


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

NZDUSD Elliott Wave Technical Analysis

FUNCTION: Bullish Trend

MODE: Impulsive

STRUCTURE: Gray Wave 3

POSITION: Orange Wave 3

DIRECTION NEXT HIGHER DEGREES: Gray Wave 3 (In Progress)

DETAILS: Gray Wave 2 has likely ended; Gray Wave 3 now underway.

Wave Cancel Invalid Level: 0.58854

The 4-hour NZDUSD chart reinforces a bullish market structure through Elliott Wave analysis. Price activity is forming an impulsive gray wave 3, situated within a broader orange wave 3, signaling enhanced upside strength in this timeframe.

Following the apparent conclusion of gray wave 2, the pair is advancing within gray wave 3—typically characterized by strong upward movement. The defined invalidation threshold at 0.58854 remains essential. A decline below this would challenge the current wave count and potentially shift the directional bias.

Given the positioning within orange wave 3, the structure aligns with a high-momentum phase, often supported by increasing demand and persistent bullish flows. As long as the price remains above the invalidation point, the technical outlook stays positive.

Looking ahead, gray wave 4 is projected to emerge after the peak of wave 3. However, the current priority is tracking the ongoing impulsive behavior of wave 3. This timeframe offers short- to mid-term guidance, helping traders align entries with momentum-driven trends.

In summary, the 4-hour Elliott Wave reading continues to support a bullish scenario for NZDUSD. The sustained climb within wave 3 presents potential long-side opportunities. As gray wave 2 completes, the stage is set for possible further gains, as long as the structure remains intact and price holds above 0.58854. Maintaining a close watch on wave development helps manage risk and optimize trade positioning around critical technical zones.

Technical Analyst: Malik Awais

Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here

Previous: GBPUSD Elliott Wave Technical Analysis

VALUE Offer - $1 for 2 Weeks then $29 a month!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

NZDUSD-4h-Forex-Char...

Related

GBPUSD Elliott Wave Analysis: Current Trends, Bullish Transition, Invalidation Levels, and Actionable Trading Insights

GBPUSD Elliott Wave Analysis: Current Trends, Bullish Transition, Invalidation Levels, and Actionable Trading Insights

GBPUSD using Elliott Wave principles, featuring insights into current wave structures, invalidation ...

Read More >
Stay informed on BPCL’s Stock Performance and Trading Strategies: BPCL Stock Elliott Wave Technical Analysis

Stay informed on BPCL’s Stock Performance and Trading Strategies: BPCL Stock Elliott Wave Technical Analysis

Discover in-depth BPCL share price analysis through Elliott Wave technical analysis. This detailed f...

Read More >
British Pound/Japanese Yen(GBPJPY)  Forex Elliott Wave Technical Analysis: Technical levels and future market directions

British Pound/Japanese Yen(GBPJPY)  Forex Elliott Wave Technical Analysis: Technical levels and future market directions

This detailed analysis of GBPJPY using the Elliott Wave theory offers a deep dive into the correctiv...

Read More >
Australian Dollar/U.S.Dollar Forex Currency Pair: AUDUSD Elliott Wave Technical Analysis Provides in-depth insights

Australian Dollar/U.S.Dollar Forex Currency Pair: AUDUSD Elliott Wave Technical Analysis Provides in-depth insights

Our comprehensive AUDUSD Elliott Wave Analysis provides in-depth insights into the current market tr...

Read More >
Alphabet Inc.(GOOGL:NASDAQ) Elliott Wave Technical Analysis 4 December 23

Alphabet Inc.(GOOGL:NASDAQ) Elliott Wave Technical Analysis 4 December 23

Alphabet Inc.(GOOGL: NASDAQ) Elliott Wave Technical Analysis dated 4 December 23 includes Stock Mark...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

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

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

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

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • 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