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EURNZD Analysis: Bullish Sequence Targets Further Rally From Lows

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Hello traders and welcome to a new blog post. In this one the spotlight will be on the EURNZD currency pair. This pair has been in a long-term bullish sequence since February 2017. Thus, it makes for an interesting instrument to add to the watch list. Is a setup imminent?

EURNZD continues to rise in a long-term bullish sequence from April 2015. Consequently, the long-term target lies between 2.1620 and 2.3900. However, the bullish cycle from February 2017 is corrective. It retraces the bearish impulse that unfolded between February 2009 and April 2015.

Eventually, when this long-term bullish phase ends, the pair should resume the broader bearish trend from February 2009. Still, traders should avoid trying to pick the top. Doing so is like catching a falling knife. Instead, it is safer to trade with the trend. Therefore, traders can keep buying alongside the ongoing corrective phase until the price reaches the 2.1620–2.3900 area, where bearish risk will likely grow stronger.

EURNZD Elliott Wave Analysis- Long term view

The first leg of the corrective cycle began in April 2015 and ended in March 2020, forming a double zigzag. Hence, it is labeled as wave (w) of the supercycle degree on the weekly chart shared with ElliottWave-Forecast.com members. Next, the connector wave (x) of the same degree fell from March 2020 to April 2022. From there, the third leg—wave (y)—started to advance. Interestingly, this wave (y) is unfolding as another double zigzag structure.

Wave w of (y) ended in August 2024, followed by wave x of (y) in September 2024. From that low, wave ((W)) of y of (y) finished at the April 2025 peak. Soon after, wave ((X)) ended the following month. Since then, a clean impulse has started for wave (A) of ((Y)) of y of (y). It extended to a new high within the larger cycle from February 2009. The H4 chart below highlights the sub-waves of wave (A).

EURNZD H4 Chart Analysis

EURNZD

The EURNZD H4 chart above shows waves 1, 2, 3, and 4 of wave (A). Admittedly, this count could be interpreted in two or three different ways. However, every trader can agree on one thing — the pair is in a clear impulsive sequence. Since the February 2009 cycle has not yet reached its extreme, traders can still look for long opportunities from the extremes of a 3, 7, or 11-swing pullback. Moreover, selling such a strong bullish market is not ideal.

Therefore, the ongoing pullback in wave 4 could provide another excellent buying opportunity, especially near the extreme of a possible 7-swing structure. We will continue to monitor this setup and mark the blue box area, where buyers can look to enter with defined stops.

Members know the blue box highlights the high-probability buy zone and the ideal area to place protective stops.

About Elliott Wave Forecast

At www.elliottwave-forecast.com, we update one-hour charts four times daily and four-hour charts once daily for all 78 instruments. We also conduct daily live sessions to guide clients on the right side of the market. Additionally, we have a chat room where moderators answer market-related questions. Experience our service with a 14-day trial for only $9.99. Cancel anytime by contacting us at support@elliottwave-forecast.com.

 

 

EURNZD Bullish from Blue Box Area, Upside Target is Close

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Hello traders and welcome to a new blog post where we discuss trade ideas that Elliottwave-Forecast members took recently. Members recently went long on the EURNZD currency pair and are now close to the first target. The post will discuss how we came about the setup and how we intend managing the trade. 

EURNZD has maintained a bullish corrective cycle since the lows of April 2015. The structure evolving is a double zigzag pattern for wave ((IV)) of the supercycle degree of the all-time bearish cycle. Meanwhile, it should be noted that this wave ((IV)) has not yet reached the target. Often times, corrective structures reach the extreme we expect unless price dictates otherwise. So far nothing of such information from the price. Thus, we continue to look forward to a higher prices until wave ((IV)) ends at the extreme area. Meanwhile, while it’s in progress, we explained to members why they should buy pullback in 3, 7 or 11 swing setup from the blue box. Thus, Group 2 members understand how to go about the trade. Good for us, a pullback emerged from the peak of April 2025. We were patient to see the pullback emerged into a clear 3-swing structure.

EURNZD Bullish Setup – 4.15.2025 Update


eurnzd

On 15th April 2024, we shared the chart above with members. The expected pullback was for wave ((4)) of the cycle degree wave c from September 2024. Wave ((4)) evolved lower with a 3-swing structure. Wave (A) of ((4)) finished with an impulse structure while wave (B) finished with a zigzag. As expected, wave (C) completed another impulse structure in the blue box. Thus, wave ((4)) was making a clear A-B-C corrective structure. We identified the blue box between 1.8964-1.8477 as the extreme area. Thus, we advised the group 2 members to buy at 1.8964 and set stop at 1.8477. What happened in the following few days?

EURNZD Bullish Setup – 4.15.2025 Update

eurnzd

EURNZD found support in the blue box as expected. Price significantly touched the zone and triggered buyers into position. We shared the chart above with members on 25th April 2025. The chart shows price reacting higher from the blue box. The first target for this trade is at 1.933. At 1.933, members will close half of their positions in profit and adjust the rest to breakeven while expecting an impulse rally to evolve for wave ((5)). Meanwhile, the final target will be at 2.027 where traders can close the rest of their positions.

However, if the bullish response is not an impulse structure, it should be at least a 3-swing bounce before turning lower to attempt a double correction for wave ((4)) much lower. After a 3-swing bounce, price should at least hit the first target. Thus, this will allow members to hold some profit while closing down risk. If a 7-swing setup eventually happens lower for ((4)), we will like to buy again at the new extreme.

This is how we like managing this trade. We will expect an impulse rally and also prepare for a deeper ((4)). Until the wave ((IV)) cycle from April 2015 reaches the extreme, we will continue to go long from the blue box on both the H1 and H4 charts.

About Elliott Wave Forecast

At www.elliottwave-forecast.com, we update one-hour charts four times daily and four-hour charts once daily for all 78 instruments. We also conduct daily live sessions to guide clients on the right side of the market. Additionally, we have a chat room where moderators answer market-related questions. Experience our service with a 14-day trial for only $9.99. Cancel anytime by contacting us at support@elliottwave-forecast.com.