NZD/USD Archives - Elliott Wave Forecast

Elliott Wave View: Impulsive Rally in NZDUSD

January 22, 2021 By EWFHendra

Short Term Elliott Wave view in NZDUSD suggests the pair ended wave ((2)) pullback at 0.7093. This pullback ended correction of the cycle from September 24 low. Internal of wave ((2)) unfolded as a double three Elliott Wave structure. Wave (W) ended at 0.7144, wave (X) ended at 0.7239, and wave (Y) of ((2)) ended at 0.7093. Pair has started to turn higher in wave ((3)). However, it still needs to break above wave ((1)) at 0.7315 to rule out a double correction.

Up from wave ((2)) low at 0.7093, wave (i) ended at 0.7141, and pullback in wave (ii) ended at 0.71. Wave (iii) higher ended at 0.7223, and pullback in wave (iv) ended at 0.7174. Pair can now either extend higher a little more to end wave (v) of ((i)) or it could also have ended wave ((i)) at 0.7225. Either way, expect pair to end wave ((i)) soon. Afterwards, it should pullback in wave ((ii)) to correct cycle from January 18 low before the rally resumes. As far as wave ((2)) low pivot at 0.7093 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.

NZDUSD 60 Minutes Elliott Wave Chart

NZDUSD Elliott Wave Video

Elliott Wave View: NZDUSD Still Needs To Rally In Wave Five

December 22, 2020 By Hassan Sheikh

NZDUSD main cycle from September 24.2020 low is showing an Elliott wave impulse rally higher but still missing the wave (5) favoring the idea of 1 more push higher before ending 5 waves rally from September lows. In the 1hr chart below, the pair is showing an impulse rally higher in wave (3) where wave 4 of (3) ended at $$0.7120 high. Then wave 4 pullback ended as a lesser degree flat correction at $0.7052 low. Up from there, pair made another 5 waves rally & ended wave 5 at $0.7171 high thus completed wave (3).

Down from there, the pair made a wave (4) pullback. The internals of that pullback unfolded as Elliott wave zigzag structure where wave A ended at $0.7108 low. Above from there, wave B bounce ended at $0.7143 high and made another 5 waves decline lower which ended wave C of (4) at $0.70002 level. Now, as far as the pair remains above 0.70002 low pair is expected to resume higher in wave (5) looking to reach a minimum towards $0.7212- $0.7278 inverse 1.236-1.618% Fibonacci extension area of wave (4) before ending 5 waves rally from September lows. Alternatively, if pair brokes below the $0.70002 low & does the double correction lower from the peak then it can see $0.6942- $0.6901 area lower before starting the next leg higher.

NZDUSD 1 Hour Elliott Wave Chart

NZDUSD Elliott Wave Video

NZDUSD: Strong Rally from Elliott Wave Blue Box Makes New Highs

November 18, 2020 By Daud Bhatti

New Zealand Dollar (NZDUSD) rallied on Friday last week and Monday this week and managed to make a new high above 0.6914 peak. Let’s take a look at some charts from members area to see how our members were prepared for this move and knew the area from where this rally was expected to take place.

NZDUSD 1 Hour Elliott Wave Analysis 13 November

Chart below shows an impulsive rally is in progress when wave 1 of (3) completed at 0.6743, wave 2 of (3) completed at 0.6612, wave 3 of (3) completed at 0.6855, wave 4 of (3) completed at 0.6799 and wave 5 of (3) completed at 0.6914. Following this, pair started wave (4) pull back which is unfolding as a Zigzag Elliottwave Structure and is expected to complete between 0.6822 – 0.6783 area. We have highlighted this area with a blue box, blue boxes are high-frequency areas which are based in a relationship of sequences, cycles and calculated using extensions. In blue box areas, both buyers and sellers agree in direction of the next move for 3 swings at least and hence we also call these blue boxes the no-enemy areas. We expected the rally to resume in wave (5) from this blue box area or a 3 waves bounce at least to take place to allow any buyers entering in blue box to get into a risk free position.

NZDUSD 1 Hour Elliott Wave Analysis 11.23.2020

NZDUSD found buyers in blue box and rallied to a new high as expected and wave (5) remains in progress. Pair is currently showing 3 swings up from wave (4) low which means more upside should take place within wave (5). 0.6942 – 0.6984 is inverse 123.6 – 161.8% Fibonacci extension area and has already been reached but as pair is only showing 3 swings up from blue (4) low, wave (5) should still see more upside. Next area of interest would be 0.7024 – 0.7075 which is 100 – 123.6% extension of wave (1) projected higher from wave (4) low.

NZDUSD : Possible Move Higher?

September 12, 2020 By EWF Aidan

NZDUSD Technical Analysis September 9/2020

NZDUSD remains bullish as long as the August 20/2020 0.6488 low remains untouched. In this analysis of the NZDUSD pair, market patterns will be used to determine possible trade entries. In the chart below, there is a possible bullish pattern that can trigger BUYS for another push higher. Possible blue bullish pattern triggers BUYS on the break above the entry line. Traders still need to be patient and wait to see if point E holds. If point E holds and price reverses higher then watch for the entry breakout level. Rule for this pattern is price needs to trigger buy signals above the 50MA and 200MA and if sell signals below the 2 moving averages. A bullish divergence pattern (purple) has already formed which adds more sentiment that the pair can break higher. Traders will need to wait and watch if point E holds or moves lower. As long as point E terminates above point C the bullish pattern remains valid. Only a move below the point C invalidates the possible bullish pattern. If looking to trade NZDUSD stops should be placed at the point E low looking for targets at the BC 1.618 Fib. level area. Only time will tell what NZDUSD will do but at least now you know how to trade the pair if it rallies higher.

NZDUSD 4 Hour Chart September 12/2020

Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan

*** Always use proper risk/money management ***

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NZDUSD : A Dip Lower Will Find Bulls

August 8, 2020 By EWF Aidan

NZDUSD Technical Analysis August 8/2020

NZDUSD remains bullish as long as the June 22/2020 0.6378 low remains untouched. In this analysis of the NZDUSD pair, market patterns will be used to determine where price can possibly reverse and bounce higher from. In the chart below, there are several possible bullish patterns that can trigger BUYS near the same area. The blue bullish reciprocal AB=CD pattern triggers BUYS at the BC 0.50% Fib. retracement level, purple bullish pattern triggers BUYS at the XA 0.786% Fib. retracement level and the black bullish AB=CD pattern also triggers buys at the same levels of the purple and blue bullish patterns. Traders still need to be patient and wait to see if price dips lower to the buy trigger levels. Also for more added confirmation watch for price to respect the the dynamic support (grey 200 moving average) and the static support/resistance level (brown). Price respecting the dynamic support and the static support level will add more bulls to enter the market and give more momentum for a possible bounce higher. Traders will need to wait and watch how price reacts in the blue box reversal zone and watch to see if the market shows a movement higher off any of the bullish pattern trigger levels. If looking to trade NZDUSD stops should be placed at the point B low of the blue bullish pattern, or for tighter stops at the point X low of the purple bullish pattern, looking for a rally higher to extend above the July 31/2020 highs. Only time will tell what NZDUSD will do but at least now you are aware of the possible area where the pair can bounce higher from.

NZDUSD 4 Hour Chart August 7/2020

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Elliott Wave View: NZDUSD In Impulsive Decline

February 21, 2020 By EWFHendra

Elliott wave view in NZDUSD suggests the move lower from 12.31.2019 high in the pair is unfolding as a 5 waves impulse. Down from 12.31.2019 high, wave (1) ended at 0.6596, and wave (2) bounce ended at 0.666. Pair has resumed lower in wave (3) towards 0.6374 and wave (4) bounce ended at 0.6488. The short term chart below shows that the pair has resumed lower in wave (5) with the internal unfolding also as 5 waves in lesser degree.

Down from 0.6488, wave 1 ended at 0.6426 and wave 2 bounce ended at 0.6466. Pair then resumed lower in wave 3 towards 0.6321 and wave 4 bounce ended at 0.6351. Near term, expect pair to continue lower within wave 5 of (5). Near term bounce should continue to find sellers in 3, 7, or 11 swing for further downside. As far as pivot at 0.6488 stays intact, expect pair to extend lower. Once the pair ends wave (5), cycle from 12.31.2019 high should end in 5 waves. Then the pair should do a larger rally in 3, 7, or 11 swing to correct the decline from 12.31.2019 high before the decline resumes.