Elliott Forecast - Elliott Wave View Looking for NZDUSD to Extend Lower

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Elliott Forecast

Eric Morera

Elliott Wave View Looking for NZDUSD to Extend Lower

Short Term Elliott Wave view in NZDUSD suggests that cycle from 9.30.2024 high is in progress as an impulse. Down from 9.30.2024 high, wave (1) ended at 0.5813 and wave (2) ended at 0.5929. Pair has resumed lower in wave (3) which ended at 0.5583 as the 1 hour chart below shows. Rally in wave (4) unfolded as a zigzag. Up from wave (3), wave A ended at 0.5684 and wave B ended at 0.5628. Wave C higher ended at 0.5692 which completed wave (4) in higher degree.

Pair has resumed lower in wave (5). Down from wave (4), wave ((i)) ended at 0.5568 and wave ((ii)) rally ended at 0.5603. Wave ((iii)) lower ended at 0.5539 and rally in wave ((iv)) ended at 0.5573. Final leg wave ((v)) ended at 0.5538 which completed wave 1. From there, pair bounce in wave 2 with internal subdivision as a zigzag. Up from wave 1, wave ((a)) ended at 0.563 and wave ((b)) ended at 0.558. Wave ((c)) higher ended at 0.565 which completed wave 2 in higher degree. Near term, as far as pivot at 0.569 high remains intact, expect rally to fail in 3, 7, 11 swing for more downside.

NZDUSD 60 Minutes Elliott Wave Chart
NZDUSD Elliott Wave Chart
NZDUSD Elliott Wave Video
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Source:-forecast.com/news/elliott-wave-view-looking-nzdusd-extend-lower/

17/01/2025 1 EN

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Elliott Forecast

Elliottwave-Forecast.com (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 52 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.

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Eric Morera

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Elliott Wave View Looking for NZDUSD to Extend Lower

SPX Perfectly Reacting Higher From The Blue Box Area

Dollar Index (DXY) Elliott Wave Calling The path

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