NZD/USD: WAVE ANALYSIS

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NZD/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point0.6005
Take Profit0.6225, 0.6365
Stop Loss0.5876
Key Levels0.5300, 0.5515, 0.5876, 0.6225, 0.6365
Alternative scenario
RecommendationSELL STOP
Entry Point0.5870
Take Profit0.5515, 0.5300
Stop Loss0.5990
Key Levels0.5300, 0.5515, 0.5876, 0.6225, 0.6365

The possibility of growth remains.

On the daily chart, an upward wave of the higher level (C) is being constructed, within which the entry first wave 1 of (C) appeared, a downward correction as the second wave 2 of (C) has completed, and wave 3 of (C) is being formed. At the moment, the first wave of the lower level i of 3 is observed, the downward correction as the second wave ii of 3 is completed and wave iii of 3 is formed, within which wave (i) of iii continues to develop. If the assumption is correct, the NZD/USD pair will rise to the area of 0.6225–0.6365. The level of 0.5876 is critical and stop-loss for this scenario.

NZD/USD: WAVE ANALYSIS

NZD/USD: WAVE ANALYSIS

Main scenario

Long positions are relevant above the level of 0.5876 with targets at 0.6225–0.6365. Implementation time: 7 days and more.

Alternative scenario

Breakdown and consolidation of the price below the level 0.5876 will allow the trading instrument to continue its downward dynamics to the area of 0.5515–0.5300.


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