Short term Elliott Wave view in NZDUSD suggests the decline to 0.6844 low ended cycle from 3/21 high in Minor wave W. Pair is currently correcting cycle from 3/21 high in 3, 7, or 11 swing in Minor wave X before the decline resumes. The rally from 4/27 low (0.6844) looks to be unfolding as a double three Elliott Wave structure where Minute wave ((w)) is expected to complete soon as a Flat Elliott wave structure, then pair should pullback in Minute wave ((x)) to correct cycle from 4/27 low before turning higher again. We don't like buying the proposed bounce and expect Minor wave X rally to find sellers in 3, 7 or 11 swing for more downside as far as pivot at 0.709 high remains intact.
NZDUSD 1 hour Elliott Wave Chart
Elliott Wave Degree
At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything we have to offer.