Technical Analysis

Elliott Wave View: NZDUSD Short-Term


NZDUSD Short term Elliott Wave view suggests the decline from 9/20 peak remains in progress a zigzag Elliott Wave structure. Down from 9/20 high (0.7434), pair ended Minor wave A at 0.7165. Subdivision of Minor wave A unfolded as 5 waves impulse where Minute wave ((i)) of A ended at 0.7276 and bounce to 0.7362 ended Minute wave ((ii)) of A. Afterwards, decline to 0.7166 ended Minute wave ((iii)) of A and Minute wave ((iv)) of A ended at 0.7239. Minute wave ((v)) of A completed at 0.7165. Pair then bounced in Minor wave B in 3 waves and ended at 0.7243. Minor wave C is currently in progress and unfolding also as 5 waves impulse. Minute wave ((i)) ended at 0.7145, Minor wave ((ii)) ended at 0.7206, and Minute wave ((iii)) at 0.7049. While Minute wave ((iv)) bounce stays below 9/29 peak (0.7243), expect pair to extend lower towards 0.6919 – 0.6983 before ending cycle from 9/20 peak.

NZDUSD 1 Hour Elliott Wave Chart

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