• 11 hours 9 Ways The Lockdown Is Playing Out Around The World
  • 17 hours WeWork Sues SoftBank For Withdrawing $3 Billion Insider Payoff
  • 1 day Solving Transportation’s Biggest Problem
  • 2 days Big Banks Could Win Big On Fed Small Business Bailout
  • 2 days Trump Increases Pressure On Venezuela
  • 2 days Researchers Create Organic Battery
  • 2 days Gold Is Still A Safe Haven, But Not Very Alluring
  • 3 days China Is Buying Up Billions Of Barrels Of Cheap Crude Oil
  • 3 days Are Gold Stocks Going To Bounce Back?
  • 4 days The Politics Of A Pandemic
  • 5 days What Does CHina’s EV Slowdown Mean For The Battery Metals Sector?
  • 5 days COVID Report Cards Will Brand Businesses Forever
  • 6 days Trump Tweet Sends Oil Soaring 25%
  • 6 days Why The Coronavirus Economic Crash Is Worse Than You Think
  • 7 days Is A Global Currency Necessary?
  • 7 days America Has Shed 500,000 Millionaires Since The Coronavirus Lockdown Began
  • 8 days Trump Wants Another $2 Trillion Economic Intervention
  • 8 days The Surprising Businesses Deemed “Essential” During The Coronavirus Lockdown
  • 9 days Priceless Van Gogh "Spring Garden" Painting Stolen
  • 9 days Oil Falls To $20 For First Time In Nearly Two Decades
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

NZDUSD Elliott Wave View: Resuming Higher

NZDUSD Short Term Elliott Wave view suggests the rally from 8/31 low unfolded as a double three Elliott Wave structure and ended with Minor wave W at 0.7434. Up from 8/31 low (0.7127), Minute wave ((w)) ended at 0.7337, Minute wave ((x)) ended at 0.7182, and Minute wave ((y)) of W ended at 0.7434. Minor wave X pullback is proposed complete at 0.7276 and unfolded as a zigzag Elliott Wave structure. Minute wave ((a)) of X ended at 0.7314. Minute wave ((b)) of X ended at 0.7364 and Minute wave ((c)) of X is proposed complete at 0.7276. Near term, while pullbacks stay above 0.7276, and more importantly as far as pivot at 8/31 low (0.7127) stays intact, expect pair to extend higher. We don’t like selling the pair.

NZDUSD 1 Hour Elliott Wave Chart

(Click to enlarge)

Zigzag is a 3 waves corrective pattern which is labelled as ABC. The subdivision of wave A is in 5 waves, either as impulse or diagonal. The subdivision of wave B can be any corrective structure. Finally, the subdivision of wave C is also in 5 waves, either as impulse or diagonal. Thus, zigzag has a 5-3-5 structure. Wave C typically ends at 100% – 123.6% of wave A.

Back to homepage

Leave a comment

Leave a comment