New Zealand Dollar/U.S. Dollar (NZDUSD) Forex Elliott Wave Technical Analysis

NZDUSD Elliott Wave Analysis - Daily Chart Overview

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

NZDUSD Elliott Wave Technical Analysis

Function: Trend
Mode: Impulsive
Structure: Orange wave 1
Position: Navy blue wave 3
Next Higher Degrees Direction: Orange wave 1 (initiated)
Details: Orange wave C of 2 appears completed; now, orange wave 1 of 3 is in progress.
Wave Cancel Invalid Level: 0.58562
The Elliott Wave analysis for NZDUSD on the daily chart highlights a trend functioning in an impulsive mode. The current structure identifies orange wave 1 positioned within the larger navy blue wave 3, suggesting a significant upward movement in the market within a broader impulsive wave pattern.

Technical analysis indicates that orange wave C of 2 seems to have completed, marking the end of a corrective phase and the beginning of a new impulsive wave, specifically orange wave 1 of 3. This transition from corrective to impulsive phase suggests an upward momentum is currently underway.

NZDUSD Elliott Wave Analysis - 4 Hour Chart Overview

New Zealand Dollar/U.S. Dollar (NZDUSD) 4 Hour Chart

NZDUSD Elliott Wave Technical Analysis

Function: Trend
Mode: Impulsive
Structure: Gray wave 1
Position: Orange wave 1
Next Lower Degrees Direction: Orange wave 2
Details: Orange wave C of 2 appears completed; now gray wave 1 of 1 is in progress.
Wave Cancel Invalid Level: 0.58562
The Elliott Wave analysis for NZDUSD on the 4-hour chart indicates a trending function in an impulsive mode. The current structure identifies gray wave 1 positioned within orange wave 1, highlighting the start of a new upward trend with significant price movements.

According to the technical analysis, orange wave C of 2 seems to have completed, marking the end of the corrective phase represented by orange wave C. The market is now transitioning into gray wave 1 of 1, indicating the start of a new impulsive wave and suggesting potential upward momentum.

Technical Analyst : Malik Awais

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