13Nov

New Zealand Dollar/U.S.Dollar (NZDUSD) 4 Hour Chart Elliott Wave Technical Analysis 13 November 23

NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 13 November 23

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

NZDUSD Elliott Wave Technical Analysis

Function: Trend

Mode: impulsive  

Structure: blue wave 3 of 1

Position: black wave 1

Direction Next Higher Degrees:blue wave 3(may started)

Details; Blue corrective wave 2 looking completed between fib level 50.00 to 61.80  . Now blue wave 3 may start . Wave Cancel invalid level: 0.57744

The "NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart" dated 13 November 23, provides an in-depth examination of the New Zealand Dollar/U.S. Dollar (NZDUSD) currency pair. Using Elliott Wave analysis, the report aims to offer traders insights into potential price movements, particularly focusing on medium-term trends.

The "Function" is identified as "Trend," indicating that the prevailing market sentiment is directional. This suggests that the market is currently in a phase where a significant move in one direction is expected.

The "Mode" is labeled as "Impulsive," signifying that the current price movement is part of a strong, trending phase. Impulsive waves are characterized by strong and rapid price movements in the direction of the prevailing trend.

The "Structure" is described as "Blue wave 3 of 1," suggesting that the market is in the third wave of a larger degree, possibly the beginning of a new trend.

The "Position" is recognized as "Black wave 1," indicating the current location within the broader wave count. Wave 1s are typically the initial phase of a new trend.

Regarding the "Direction Next Higher Degrees," the analysis suggests that "blue wave 3 (may have) started." This implies that the market might be entering a strong upward trend as part of the larger degree wave count.

In terms of "Details," the report notes that "Blue corrective wave 2" is considered completed, falling between the Fibonacci levels of 50.00 to 61.80. This signals the end of a corrective phase, potentially paving the way for the start of a new impulsive wave.

The "Wave Cancel invalid level" is set at 0.57744. This level serves as a reference point for traders, and a breach of this level might suggest a reevaluation of the current wave count and market structure.

In conclusion, the NZDUSD Elliott Wave Analysis on the 4-hour chart indicates a trending market with an impulsive mode. The analysis anticipates the start of a potentially strong upward move (blue wave 3) after the completion of a corrective phase. Traders should closely monitor the invalidation level for adjustments in their trading strategies.

Technical Analyst: Malik Awais

Source: Tradinglounge.com get trial here!

NZDUSD-4Hr-Forex-Cha...

 


 

NZDUSD Elliott Wave Analysis Trading Lounge Day  Chart, 13 November 23

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

NZDUSD Elliott Wave Technical Analysis

Function: Trend

Mode: impulsive  

Structure: blue wave 3 of 1

Position: black wave 1

Direction Next Higher Degrees:blue wave 3(may started)

Details; Blue corrective wave 2 looking completed between fib level 50.00 to 61.80  . Now blue wave 3 may start . Wave Cancel invalid level: 0.57744

The "NZDUSD Elliott Wave Analysis Trading Lounge Day Chart" dated 13 November 23, provides a comprehensive analysis of the New Zealand Dollar/U.S. Dollar (NZDUSD) currency pair using Elliott Wave theory. The analysis focuses on the daily chart, offering insights into potential longer-term price movements.

The identified "Function" is "Trend," indicating that the prevailing market sentiment is directional, with an inclination towards sustained price movements in a particular direction.

The "Mode" is labeled as "Impulsive," suggesting that the current market conditions are characterized by strong, trending movements. Impulsive waves typically represent the primary direction of the larger trend.

The "Structure" is described as "Blue wave 3 of 1." This indicates that the market is potentially in the third wave of a larger degree, signaling the early stages of a new trend.

The "Position" is recognized as "Black wave 1," implying that the market is likely in the initial phase of a new trend. Wave 1s often mark the beginning of a significant price move.

Regarding the "Direction Next Higher Degrees," the analysis proposes that "blue wave 3 (may have) started." This implies that the market might be entering a phase of strong upward momentum as part of a larger degree wave count.

In terms of "Details," the report notes the completion of "Blue corrective wave 2" between the Fibonacci levels of 50.00 to 61.80. This completion suggests the end of a corrective phase, potentially paving the way for the initiation of a new impulsive wave.

The "Wave Cancel invalid level" is set at 0.57744. This level serves as a reference point for traders, and a breach of this level might prompt a reassessment of the current wave count and market structure.

In summary, the NZDUSD Elliott Wave Analysis on the daily chart suggests a trending market with an impulsive mode. The analysis anticipates the potential start of a strong upward move (blue wave 3) after the completion of a corrective phase. Traders are advised to monitor the invalidation level for adjustments in their trading strategies.

Technical Analyst: Malik Awais

Source: Tradinglounge.com get trial here!

NZDUSD-Day-Forex-Cha...

Related

IBEX 35 (Spain) Elliott Wave Analysis – Daily and Weekly Wave Count for Spanish Stock Market Forecast

IBEX 35 (Spain) Elliott Wave Analysis – Daily and Weekly Wave Count for Spanish Stock Market Forecast

This IBEX 35 Elliott Wave update reveals a bullish structure in both daily and weekly charts, signal...

Read More >
ADANI PORTS and SEZ – ADANIPORTS Stocks Elliott Wave Technical Analysis Focusing on Stock Market Trends

ADANI PORTS and SEZ – ADANIPORTS Stocks Elliott Wave Technical Analysis Focusing on Stock Market Trends

Delve into the comprehensive technical analysis of Adani Ports and SEZ, focusing on Elliott Wave cou...

Read More >
Learn about BXB Stock Trends, and What to Expect in Upcoming Sessions: Brambles Limited Elliott Wave Technical Forecast

Learn about BXB Stock Trends, and What to Expect in Upcoming Sessions: Brambles Limited Elliott Wave Technical Forecast

Our detailed Elliott Wave analysis on Brambles Limited (BXB) provides traders with key insights into...

Read More >
British Pound / Australian Dollar (GBPAUD) Elliott Wave Technical Forecast: Bullish Trend Setup, Daily and 4-Hour Chart Outlook

British Pound / Australian Dollar (GBPAUD) Elliott Wave Technical Forecast: Bullish Trend Setup, Daily and 4-Hour Chart Outlook

GBPAUD Elliott Wave analysis focusing on the ongoing wave 2 correction within a larger bullish wave ...

Read More >
Unlocking ASX Trading Success: TELSTRA GROUP LIMITED - TLS Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: TELSTRA GROUP LIMITED - TLS Stock Analysis & Elliott Wave Technical Forecast

Dive into the latest Telstra Group Limited (TLS.ASX) analysis with Elliott Wave insights. Learn abou...

Read More >
Elliott Wave Analysis of ASX: RMD ResMed Inc. Stock Performance, Financial Trends and Investment Opportunities

Elliott Wave Analysis of ASX: RMD ResMed Inc. Stock Performance, Financial Trends and Investment Opportunities

ResMed Inc. (ASX: RMD) stock performance, including price analysis, financials, dividend insights, a...

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