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Elliott Wave View: NZDUSD Zigzag Correction in Play

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NZDUSD short term Elliott Wave view suggests the decline from 12.31.2019 is unfolding as a zigzag Elliott Wave structure. Down from 12.31.2019 high (0.6755), wave 1 ended at 0.6717, and wave 2 bounce ended at 0.6739. Pair then resumed lower in wave 3 towards 0.6623 with subdivision of another 5 waves of lesser degree. Wave 4 bounce ended at 0.6672. The final wave 5 of (A) ended at 0.6596. Wave (B) bounce is proposed complete at 0.666 with internal subdivision as an expanded Flat.

Wave A of (B) ended at 0.665, wave B of (B) ended at 0.658, and wave C of (B) is complete at 0.666. Pair has turned lower in wave (C) but it needs to break below 0.658 to confirm the bearish sequence in wave (C) and rule out a double correction. Near term, wave 1 of (C) ended at 0.6588. While wave 2 of (C) rally fails below 0.666, expect pair to resume lower again within wave (C). Potential wave (C) target lower is 100% of wave (A)-(B) which comes at 0.646 – 0.65. As far as pivot at 0.666 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.

NZDUSD 1 Hour Elliott Wave Chart

Elliott Wave View: NZDUSD Zigzag Correction in Play

NZDUSD Elliott Wave Video

NZDUSD : Trading the Move Higher

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NZDUSD Technical Analysis

On December 17/2019 EWF clients/members were advised that NZDUSD would bounce/rally higher. We use blue boxes to advise clients of potential reversal areas. In the chart below there is a clear Elliott Wave bullish impulse wave forming and we showed our clients the wave (4) termination in the blue box. Our clients were expecting a move higher.

NZDUSD 1 Hour Chart December 17/2019

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StockTwits/Twitter December 19/2019 : After NZDUSD did a clear bounce off the blue box it confirmed a low was in and the wave (4) termination. I posted on social media the BUY trade setup with stop loss at the wave (4) low.

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NZDUSD 1 Hour Chart : The chart below shows a bullish triangle breakout pattern which also added more signs that NZDUSD would rally higher. December 26/2019 both TP1 (1:2 RR) and TP2 (1:3 RR) targets were hit from the Support/Resistance Zone December 19/2019 entry.

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NZDUSD 1 Hour Chart : The pair continued to rally higher strongly. December 27/2019 TP4 (1:5 RR) target HIT for +125 pips. The trade risk was 25 pips. Hope you caught the move higher.

NZDUSD, forex, trading, elliottwave, elliott wave, technical analysis

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 according to your account size ***

At Elliottwave-Forecast we cover 78 instruments (Forex, Commodities, Indices, Stocks and ETFs) in 4 different timeframes and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos  and we have a 24 Chat Room. Our clients are always in the loop for the next market move.

Try Elliottwave-Forecast for 14 days FREE !!!   Just click here –> 14 day FREE trial

NZDUSD Elliott Wave Forecasting The Rally From The Blue Box

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In this technical blog we’re going to take a quick look at the Elliott Wave charts of NZDUSD pair  published in members area of the Elliottwave-Forecast .  As our members know, cycle from the 10/01 low is unfolding as 5 waves structure. Recently we got 3 waves pull back against the 0.6316 low. The pair found buyers at the Equal Legs, blue box area as we expected.  We were calling for further rally within the October cycle.  In further text we’re going to explain Elliott Wave Forecast.

NZDUSD 1 Hour Elliott Wave Analysis 12.17.2019

NZDUSD ended short term cycle from the 0.6316 low as 5 waves rally, labeled as wave (3) blue.  Now we are getting wave (4) blue pull back against the 0.6316 low. Current view suggests the pull back is unfolding as Elliott Wave Zig Zag Pattern. Correction looks incomplete at the moment. The price hasn’t reached equal legs/ blue box area yet. We expect to see another leg down toward Blue Box area: 0.65548-0.65185.   At that area we expect buyers to appear for proposed rally or 3 waves bounce at least.  As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.

You can learn more about Elliott Wave Zig Zag Patterns at our Free Elliott Wave Educational Web Page.

NZDUSD

NZDUSD 1 Hour Elliott Wave Analysis 12.20.2019

NZDUSD found buyers at 0.65548-0.65185 , the Blue Box area. We got nice reaction from there so far. At this stage we are calling wave (4) blue pull back completed at 0.65518 low. We would like to see further extension higher and break above 12/13 high to confirm next leg up is in progress. Otherwise break below current short term low : 0.65518 would open possibility for a deeper correction in 7 swings.

NZDUSD

 

NZDUSD 1 Hour Elliott Wave Analysis 12.24.2019

Eventually we got further separation higher and the pair broke 12/13 high as we expected. Current view suggests further extension higher within wave (5) as far as pivot at 0.65518 low stays intact.

Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the Live Trading Room.

NZDUSD

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Elliott Wave View: NZDUSD Showing Incomplete Sequence

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NZDUSD has an incomplete 5 swing sequence from May 23, 2019 low favoring further upside. Short term Elliott Wave view suggests the pullback to 0.6565 on July 10, 2019 low ended wave ((X)). Pair then rallies from there as a zigzag Elliott Wave structure where wave (A) of this zigzag is in progress as an impulse. Up from 0.6565, wave 1 ended at 0.6608  and wave 2 pullback ended at 0.659. The pair then rallied higher in wave 3 towards 0.6689, and wave 4 pullback ended at 0.6652. Expect pair to end wave 5 soon and this should also complete wave (A) in higher degree.

Pair should then pullback in wave (B) to correct cycle from July 10, 2019 low before the rally resumes. Pullback is expected to develop in the sequence of 3, 7, or 11 swing and as far as pivot at 0.6565 low stays intact, expect pair to resume higher. We don’t like selling the pair and favor further upside against 0.6565 low in the first degree.  Potential target to the upside is 100% extension from May 23, 2019 low which comes at 0.681 – 0.687 area.

NZDUSD 1 Hour Elliott Wave Chart

Elliott Wave View: NZDUSD Showing Incomplete Sequence

 

NZDUSD 1 hour Elliott Wave Video

NZDUSD : Watch Reversal Zone for Another Move Higher

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NZDUSD Technical Analysis January 29/2019

NZDUSD remains bullish as long as the January 22/2019 low remains untouched. If you read the article, NZDUSD : Possible Bullish Patterns, published on December 19/2018 you will already know that we are only looking to BUY/LONG kiwi dollar. If you missed that move higher then there is another opportunity to BUY the pair on the 1 hour chart where there are clear visible bullish patterns that can be seen.  In the chart below, market patterns are used to determine where price can possibly reverse and bounce higher. The first bullish pattern (blue) triggers BUYS at the BC 0.50% Fib. retracement level and if NZDUSD extends lower it will be met by the second bullish pattern (pink) which triggers BUYS at the XA 0.886% Fib. retracement level. Traders should watch these two levels in the reversal zone (blue box) for a possible reaction bounce higher because there has been previous support/resistance price action in the past. Blue bullish pattern invalidates if price breaks below the point B low and the pink bullish pattern invalidates if price moves below the point X low. Traders will need to wait and watch how price reacts at the possible reversal/support zone (blue box) and see if the market reacts higher to any of these bullish patterns. 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 pink bullish pattern  looking for a bounce/rally higher to extend above the January 28/2019 highs. Only time will tell what NZDUSD will do but at least now you are aware of the possible area where Kiwi can bounce from.

NZDUSD 1 Hour Chart 1.29.2019

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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 according to your account size ***

At Elliottwave-Forecast we cover 76 instruments (Forex, Commodities, Indices, Stocks and ETFs) in 4 different timeframes and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos  and we have a 24 Chat Room. Our clients are always in the loop for the next market move.

Try Elliottwave-Forecast for 14 days FREE !!!   Just click here –> 14 day FREE trial

NZDUSD : Possible Bullish Patterns

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NZDUSD Technical Analysis December 19/2018

NZDUSD remains bullish as long as the October 8/2018 low remains untouched. On the Daily chart there are clear visible bullish patterns that can be seen.  In the chart below, market patterns are used to determine where price can possibly pause and bounce higher. The green bullish AB=CD pattern triggers BUYS at the Fib. extension 1.0% level. The green AB=CD pattern is also close to where the blue bullish pattern triggers BUYS which is at the BC 0.50% Fib. retracement level. Traders should watch these two levels for a possible reaction bounce higher because there has been previous support/resistance price action in the past. Another bullish pattern can also possibly form if price continues lower towards the pink XA 1.618% Fib. retracement level where the pink bullish pattern triggers BUYS. Traders will need to wait and watch how price reacts at the possible support zone (blue box) and see if the market reacts higher to any of these bullish patterns. If looking to trade NZDUSD stops should be placed at the point B low of the blue bullish pattern looking for a rally higher to extend above the December 4/2018 highs. Only time will tell what NZDUSD will do but at least now you are aware of the possible area where Kiwi can bounce from.

NZDUSD Daily Chart 12.19.2018

NZDUSD, patterns, technical analysis, bullish, forex, elliottwave, elliott wave

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 according to your account size ***

At Elliottwave-Forecast we cover 76 instruments (Forex, Commodities, Indices, Stocks and ETFs) in 4 different timeframes and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos  and we have a 24 Chat Room. Our clients are always in the loop for the next market move.

Try Elliottwave-Forecast for 14 days FREE !!!   Just click here –> 14 day FREE trial