The NZDUSD daily chart Elliott Wave analysis indicates a bullish setup. Price action is advancing in impulsive mode, highlighting strong upward strength. The ongoing structure reflects orange wave 3, which is nested within a larger navy blue wave 3. This alignment suggests the currency pair is in a highly dynamic phase of its upward cycle, where third waves generally carry the most momentum.

The analysis points out that orange wave 2 has completed its correction, confirming the start of orange wave 3. This wave often leads to broad price increases due to its impulsive character. Traders should watch how orange wave 3 evolves within the wider navy blue wave 3 framework.

Current signals support a continuation of the bullish outlook. With orange wave 3 now active, the setup implies strong buying momentum and a high likelihood of further gains in upcoming sessions.

NZD/USD Elliott Wave technical analysis – Four-hour chart

Function: Bullish Trend

Mode: Impulsive

Structure: Gray wave 3

Position: Orange wave 3

Direction next higher degrees: Gray wave 3 (started)

Details: Gray wave 2 looks complete; gray wave 3 is in progress.

The NZDUSD 4-hour chart Elliott Wave analysis confirms a bullish trend. Price movement is currently in impulsive mode, reflecting upward momentum. The present pattern identifies gray wave 3 as part of the broader orange wave 3 sequence. This setup indicates the pair is in a strong advancing phase within its overall bullish framework.

Gray wave 2 seems to have ended, giving way to the onset of gray wave 3. This wave often demonstrates powerful and sustained movement, making it critical in identifying long opportunities. Traders should continue monitoring gray wave 3 as it expands within the larger orange wave 3 pattern.

Technical indications suggest NZDUSD remains in an upward trajectory. With gray wave 3 active, buying pressure is evident, supporting the potential for continued price appreciation in the short to medium term.

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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