Tag Archives: NZD

Elliott Wave Analysis: German DAX, S&P500 And NZDUSD

Grega Horvat

Stocks and XXX/JPY pairs gaped nicely higher during the weekend, and it looks that more gains may follow soon on equity markets. We are looking at both; DAX and E-mini S&P500 which can be headed much higher this week as we see recent downward corrections completed. Dax is in impulse up, ideally within wave 3) headed up to 12500-12550, while S&P500 can be underway to new all-time highs as we called end of a wave b set-back already on Friday. more…

Elliott Wave Analysis: EURUSD And NZDUSD

Grega Horvat

Good day traders! Today we’re gonna take a look at some intraday charts. The first one is EURUSD. The EURUSD is trading nicely higher today, probably in final stages of a higher degree bullish impulse. Ideally current rally since 28th of July is the final push of a black wave v of v), that will search for limited upside near the middle or upper channel line. From the mentioned region a new change in trend can come in play. more…

GBP/NZD Close To The Top Of The Equidistant Channel

Nenad Kerkez

The GBP/NZD has formed a bearish equidistant channel, but recent news gave the push in bullish momentum and the price might reverse. The zone to watch is 0.7560-80 (Channel top, ATR high, EMA89, D H4). Traders should watch for any reversal or continuation patterns within the POC zones. A bullish continuation pattern within the zone might push the price further towards the D H5 at 0.7653 while a bearish reversal pattern could drop the price towards D H3 and L3 – 0.7490 and 0.7370. The GBP/NZD is a very volatile pair and because the price is already at its extremes we might see a short term rejection from the POC soon and that could provide some short term trading opportunities. more…

NZDUSD Elliott Wave View: Downside Resumes

Daud Bhatti

Revised Elliott Wave view in NZDUSD suggests the decline from 3/21 high (0.709) is unfolding as a triple three Elliott Wave structure where Minute wave ((w)) ended at 0.6905, Minute wave ((x)) ended at 0.7053, Minute wave ((y)) ended at 0.6844 and Minute second wave ((x)) is proposed complete at 0.6968. Minute wave ((z)) is in progress and unfolding as a double three Elliott Wave structure where Minutte wave (w) ended at 0.6835 , and Minutte wave (x) is in progress to correct cycle from 5/2 high before pair resumes lower again. We don’t like buying the pair and expect bounces in Minutte wave (x) to find sellers in 3, 7, or 11 swing for more downside provided that pivot at 0.6968 high remains intact. more…

NZD/USD Equidistant Channel In A Strong Downtrend

Nenad Kerkez

The NZD/USD has been dropping consistently within the Equidistant channel versus its counterpart USD mainly due to expectations the Federal Reserve will raise interest rates next week while the Reserve Bank of New Zealand keeps its rate low. Additionally, the dairy prices fell in the overnight auction, adding to overall NZD weakness. The POC zone is 0.6935-50 (H4, DPP, equidistant channel top, ATR top) and we might expect new rejection if the price gets within the zone. 1h momentum or 4h close below 0.6890 marks the continuation towards 0.6858 and 0.6840. The ATR has been low but consistent so the NZD could be also suitable for traders who are afraid to trade volatile pairs. more…

AUD/NZD For Feb 01 AUD/NZD Bounces Off Support

Nenad Kerkez

The AUD/NZD bounced off support as expected, driven by worse than expected Unemployment Rate (5.2 % vs 4.8 %) while AUD Commodity Prices showed an increase by 10.9%. Technically POC comes within 1.0355-1.0370 (DPP, L3, 61.8, ABCD hist). The up move is supported by historical ABCD pattern at L3 support so on the next retest of POC zone we might see another bounce towards 1.0430 region. If we don’t see a retracement to POC then a strong h1 momentum or 4h close above 1.0435 might push the price to 1.0470. more…

Elliott Wave Analysis On NZDUSD And GOLD

Gregor Horvat

NZDUSD has completed five waves lower from the red wave C) label around the 0.7402 mark and is currently in a bullish retracement process namely close to completing red wave A. Later, we expect three sub-waves to unfold within wave B) and a final push higher within final wave C) of this three waves. The whole correction will then find a probable region of resistance and a turning point lower around the 0.7176 area, from where bears may take over. more…