NZDUSD Elliott Wave Analysis Trading Lounge Day Chart, New Zealand Dollar/U.S.Dollar (NZDUSD) Day Chart NZDUSD Elliott Wave Technical AnalysisFUNCTION: Counter Trend MODE: Corrective STRUCTURE: blue wave C POSITION: black wave 2 DIRECTION NEXT HIGHER DEGREES: black wave 3 DETAILS blue wave C of 2 is in play and looking near to end. After that black wave 3 will start. Wave Cancel invalid level: 0.57750 The NZDUSD Elliott Wave Analysis for the day chart provides insights into potential price movements of the New Zealand Dollar against the US Dollar, using Elliott Wave principles for technical analysis.Identified as a “Counter Trend” scenario, the analysis indicates that the current market direction opposes the prevailing trend, suggesting a potential reversal or corrective movement against the broader price trend. This suggests that traders may anticipate a temporary deviation from the primary trend before a potential resumption or continuation.Described as “Corrective” in mode, the analysis suggests that the current market movement exhibits characteristics of corrective price action, indicating a temporary pause or retracement within the broader market trend. This implies that traders may expect a corrective phase before the potential continuation of the primary trend.The “STRUCTURE” is identified as “blue wave C,” providing clarity on the current wave count within the Elliott Wave cycle. This aids traders in understanding the ongoing corrective pattern and its relation to the broader Elliott Wave structure.Positioned as “black wave 2,” the analysis highlights the current wave count within the corrective phase, indicating the specific phase of the correction within the broader Elliott Wave cycle. This suggests that the market is currently undergoing a correction before potentially resuming its upward movement.The “DIRECTION NEXT HIGHER DEGREES” is stated as “black wave 3,” suggesting the anticipated direction for the subsequent higher-degree wave. This implies that once the current corrective phase completes, the market may resume its upward movement within the broader Elliott Wave structure.In the “DETAILS” section, it is noted that “blue wave C of 2 is in play and looking near to end. After that black wave 3 will start.” This indicates that the current corrective phase is ongoing, with the expectation of completion before a potential resumption of the broader trend.In summary, the NZDUSD Elliott Wave Analysis for the day chart offers traders valuable insights into potential corrective movements, critical levels to monitor, and the anticipated direction within the broader Elliott Wave structure, aiding in informed trading decisions.
NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, New Zealand Dollar/U.S.Dollar (NZDUSD) 4 Hour Chart NZDUSD Elliott Wave Technical AnalysisFUNCTION: Counter Trend MODE: Impulsive as C STRUCTURE: red wave 5 POSITION: blue wave C DIRECTION NEXT HIGHER DEGREES: black wave 3 DETAILS red wave 4 of C completed, now red wave 5 of C is in play. Wave Cancel invalid level: 0.57750 The NZDUSD Elliott Wave Analysis for the 4-hour chart offers insights into the potential price movements of the New Zealand Dollar against the US Dollar, employing Elliott Wave principles for technical analysis.Identified as a “Counter Trend” scenario, the analysis suggests that the current market direction opposes the prevailing trend, indicating a potential reversal or corrective movement against the broader price trend. This implies that traders may anticipate a temporary deviation from the primary trend before a potential resumption or continuation.Described as “Impulsive as C” in mode, the analysis indicates that the current market movement exhibits characteristics of impulsive price action, suggesting strong and decisive movements in the direction of the counter trend move.The “STRUCTURE” is identified as “red wave 5,” providing clarity on the current wave count within the Elliott Wave cycle. This aids traders in understanding the ongoing counter trend move and its relation to the broader Elliott Wave pattern.Positioned as “blue wave C,” the analysis highlights the current wave count within the counter trend move, indicating the specific phase of the corrective pattern within the broader Elliott Wave cycle.The “DIRECTION NEXT HIGHER DEGREES” is stated as “black wave 3,” suggesting the anticipated direction for the subsequent higher-degree wave. This implies that once the current counter trend move completes, the market may resume its upward movement within the broader Elliott Wave structure.In the “DETAILS” section, it is noted that “red wave 4 of C completed, now red wave 5 of C is in play.” This indicates that the current counter trend move is ongoing, with the expectation of further downside movement before a potential reversal or continuation of the broader trend.In summary, the NZDUSD Elliott Wave Analysis for the 4-hour chart offers traders valuable insights into potential counter trend movements, corrective phases, and critical levels to monitor within the broader Elliott Wave structure, aiding in informed trading decisions.Technical Analyst: Malik Awais
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