Elliott Wave Analysis: NZDUSD Trading In Final Stages Of A Correction; A Reversal From Around 0.7264-0.7269 Could Be In View

Gregor Horvat Wavetraders

NZDUSD is trading nicely higher within a higher degree corrective rise, that we labeled as an unfolding A-B and now in final stages wave C. As we can see on the intra-day time frame, we are now observing a five wave development taking place in wave C, that could ideally unfold as an ending diagonal pattern; a strong reversal pattern that can after its completion push price lower. For now price could be trading at the start of sub-wave v and could later if price continues to the upside, face a possible reversal around the 0.7264-0.7269 area.
A daily close below the 0.7102 level would be a confirmation for a top in place and more weakness to follow.

NZDUSD, 1h

The ending diagonal is a special type of motive wave that occurs primarily in the wave 5 position when price has moved too far and too fast. Some ending diagonal triangles appear in the C wave of an ABC correction. In all cases, the ending diagonal terminates the move of larger patterns. They consist out of five waves, with each having three more sub-waves.

Basic Ending Diagonal Pattern:

Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

EUR/USD recedes to daily lows near 1.1770

EUR/USD is losing some momentun, easing to daily troughs around 1.1770 on turnaround Tuesday. The pair’s pullback comes amid solid gains in the US Dollar, all amid lingering uncertainty around US tariffs ahead of comments from Fed officials.

GBP/USD comes under pressure below 1.3500, focus on BoE

GBP/USD is on the defensive again on Tuesday, hovering below the 1.3500 mark as the Greenback stages a firm rebound after two soft sessions. Investors, in the meantime, are expected to closely follow BoE official’s comments later in the day.

Gold fades the advance, back to $5,100

Gold is giving back a good portion of the recent multi-day rally, receding to the boundaries of the $5,100 region per troy ounce amid the marked rebound in the Greenback. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.

Crypto Today: Bitcoin, Ethereum, XRP come under renewed pressure amid ETF outflows, tariff uncertainty

Bitcoin, Ethereum and Ripple are trading under increasing selling pressure at the time of writing on Tuesday, as market participants navigate renewed tariff uncertainty. The Crypto King holds above $63,000, down 2% intraday from its $64,656 open.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.