04Jul

Learn Key Trading Strategies for New Zealand Dollar/U.S. Dollar Forex pair with NZDUSD Elliott Wave Technical Analysis

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: 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.

NZDUSD-Day-Forex-Cha...


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: 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.

Technical Analyst: Malik Awais

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

Previous: Euro/U.S.Dollar (EURUSD) 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-4hr-Forex-Cha...

Related

The Coca Cola Company (KO:NYSE) Elliott Wave Technical Analysis 20 October 23

The Coca Cola Company (KO:NYSE) Elliott Wave Technical Analysis 20 October 23

The Coca-Cola Company (KO: NYSE) Elliott Wave Technical Analysis For 20 October 23, KO Stock Market ...

Read More >
Elliott Wave Analysis of MicroStrategy (MSTR) Reveals Bullish Impulse Pattern and Forecasts Strong Uptrend from Daily and Hourly Charts

Elliott Wave Analysis of MicroStrategy (MSTR) Reveals Bullish Impulse Pattern and Forecasts Strong Uptrend from Daily and Hourly Charts

Elliott Wave analysis of MicroStrategy Inc. (MSTR) using daily and 1-hour charts. It outlines bullis...

Read More >
ASX: Santos Limited (STO) Stock Analysis & Elliott Wave Technical Forecast with Key Trends and Actionable Trading Strategies

ASX: Santos Limited (STO) Stock Analysis & Elliott Wave Technical Forecast with Key Trends and Actionable Trading Strategies

Get detailed Elliott Wave analysis for ASX: SANTOS LIMITED (STO), including stock trends, price pred...

Read More >
TXN Elliott Wave Technical Analysis: Understanding Texas Instruments Inc. Stock Trends and Chart Analysis

TXN Elliott Wave Technical Analysis: Understanding Texas Instruments Inc. Stock Trends and Chart Analysis

Dive into comprehensive TXN Elliott Wave analysis to uncover trends, forecasts, and trading strategi...

Read More >
JSW STEEL Indian Stocks Elliott Wave Technical Analysis Confirms Bullish Trend with Wave 3 and Key Support on Daily and Weekly Charts

JSW STEEL Indian Stocks Elliott Wave Technical Analysis Confirms Bullish Trend with Wave 3 and Key Support on Daily and Weekly Charts

The Elliott Wave analysis for JSW STEEL shows a bullish trend, with active impulsive waves on both d...

Read More >
JP Morgan (JPM) Elliott Wave Forecast Highlights Bullish Wave 3 Trend Toward $280 Price Target with Technical Trading Insight

JP Morgan (JPM) Elliott Wave Forecast Highlights Bullish Wave 3 Trend Toward $280 Price Target with Technical Trading Insight

This Elliott Wave forecast reveals JPM stock is in wave {v} of 3, projecting a bullish trend continu...

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