NZD/USD: WAVE ANALYSIS

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NZD/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point0.5931
Take Profit0.6411, 0.6540
Stop Loss0.5856
Key Levels0.5517, 0.5765, 0.5856, 0.6411, 0.6540
Alternative scenario
RecommendationSELL STOP
Entry Point0.5855
Take Profit0.5765, 0.5517
Stop Loss0.5915
Key Levels0.5517, 0.5765, 0.5856, 0.6411, 0.6540

Growth is possible.

On the daily chart, a downward correction of the higher level ended as the wave (B), and the wave (C) develops, within which the entry first wave of the lower level 1 of (C) formed. Now, a local correction has ended as the second wave 2 of (C), within which the wave c of 2 is forming, and the third wave 3 of (C) is developing. If the assumption is correct, the NZD/USD pair will grow to the area of 0.6411–0.6540. In this scenario, critical stop loss level is 0.5856.

NZD/USD: WAVE ANALYSIS

NZD/USD: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 0.5856 with the targets at 0.6411–0.6540. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 0.5856 will let the asset go down to the area of 0.5765–0.5517.

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