rounded corner
rounded corner
top border

Elliott Wave View: NZDUSD In Impulsive Decline

Bookmark and Share

Elliott wave view in NZDUSD suggests the move lower from 12.31.2019 high in the pair is unfolding as a5 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.

NZDUSD 1 Hour Elliott Wave Chart


Recent articles from this author

About the author  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. is not a broker, nor does it have an affiliation with any broker.

Copyright ©2005-2020, a product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy