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NZD/USD Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

NZDUSD Elliott Wave Analysis – Trading Lounge.

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

NZD/USD Elliott Wave technical analysis

Function: Bullish Trend.
Mode: Impulsive.
Structure: Navy Blue Wave 1.
Position: Gray Wave 1.
Direction next lower degrees: Navy Blue Wave 2.
Wave cancel invalid level: 0.55993.

Market overview

The NZDUSD daily chart analysis indicates a bullish trend characterized by an impulsive wave structure. The market is currently in Navy Blue Wave 1, marking the start of a new upward movement. This suggests that the currency pair is gaining momentum and is likely to continue rising in the near term.

The wave positioning places the market in Gray Wave 1, reinforcing the beginning of a broader bullish cycle. With Navy Blue Wave 1 in play, the market is still in its early uptrend phase, and further bullish movement is anticipated.

Next wave projection

The next lower-degree wave to monitor is Navy Blue Wave 2, which is expected to follow the completion of the current bullish wave. This indicates that after the ongoing upward movement, a temporary correction or consolidation may take place before the bullish trend resumes.

Conclusion

The NZDUSD daily chart reflects a strong bullish trend, with Navy Blue Wave 1 of Gray Wave 1 currently developing. The next phase involves Navy Blue Wave 2, which may introduce a short-term pullback before the overall uptrend continues.

As long as the wave structure remains intact, further gains are expected. However, the wave cancel invalid level is set at 0.55993, meaning that a drop below this level would invalidate the current wave count.

New Zealand Dollar / U.S. Dollar (NZDUSD) four-hour chart

NZD/USD 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.
Wave cancel invalid level: 0.55993.

Market overview

The NZDUSD 4-hour chart analysis confirms a bullish trend with an impulsive wave structure. The market is currently in Orange Wave 3, which follows the completion of Orange Wave 2. This indicates that upward momentum is strengthening, leading to further gains in the pair.

The current wave position places the market in Navy Blue Wave 1, reinforcing the beginning of a broader uptrend. As Orange Wave 3 develops, the market is expected to sustain upward movement before transitioning into Orange Wave 4.

Next wave projection

The next lower-degree wave to watch is Orange Wave 4, which will take shape after the current bullish wave completes. This means that following the ongoing upward movement, a short-term pullback or consolidation may occur before the overall bullish trend resumes.

Conclusion

The NZDUSD 4-hour chart continues to display a strong bullish trend, with Orange Wave 3 currently in play. The next phase will involve Orange Wave 4, potentially introducing a temporary downward correction before the uptrend continues.

As long as the current wave structure remains intact, further gains are expected in the near term. The wave cancel invalid level is set at 0.55993, meaning that a drop below this level would invalidate the current wave count.

NZD/USD Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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