Photo by Thomas Coker on Unsplash

NZDUSD Elliott Wave Analysis | Trading Lounge
New Zealand Dollar/ U.S. Dollar (NZDUSD) Day Chart
NZDUSD Elliott Wave Technical Analysis
FUNCTION: Bullish Trend
MODE: Impulsive
STRUCTURE: Orange wave 3
POSITION: Navy blue wave 3
DIRECTION NEXT HIGHER DEGREES: Orange wave 3 (started)
DETAILS: Orange wave 2 appears completed; orange wave 3 is currently unfolding.

The NZDUSD daily chart Elliott Wave analysis indicates a bullish setup. Price action is advancing in impulsive mode, highlighting strong upward strength. The ongoing structure reflects orange wave 3, which is nested within a larger navy blue wave 3. This alignment suggests the currency pair is in a highly dynamic phase of its upward cycle, where third waves generally carry the most momentum.

The analysis points out that orange wave 2 has completed its correction, confirming the start of orange wave 3. This wave often leads to broad price increases due to its impulsive character. Traders should watch how orange wave 3 evolves within the wider navy blue wave 3 framework.

Current signals support a continuation of the bullish outlook. With orange wave 3 now active, the setup implies strong buying momentum and a high likelihood of further gains in upcoming sessions.

(Click on image to enlarge)

New Zealand Dollar/ U.S. Dollar (NZDUSD) 4-Hour Chart
NZDUSD Elliott Wave Technical Analysis
FUNCTION: Bullish Trend
MODE: Impulsive
STRUCTURE: Gray wave 3
POSITION: Orange wave 3
DIRECTION NEXT HIGHER DEGREES: Gray wave 3 (started)
DETAILS: Gray wave 2 looks complete; gray wave 3 is in progress.

The NZDUSD 4-hour chart Elliott Wave analysis confirms a bullish trend. Price movement is currently in impulsive mode, reflecting upward momentum. The present pattern identifies gray wave 3 as part of the broader orange wave 3 sequence. This setup indicates the pair is in a strong advancing phase within its overall bullish framework.

Gray wave 2 seems to have ended, giving way to the onset of gray wave 3. This wave often demonstrates powerful and sustained movement, making it critical in identifying long opportunities. Traders should continue monitoring gray wave 3 as it expands within the larger orange wave 3 pattern.

Technical indications suggest NZDUSD remains in an upward trajectory. With gray wave 3 active, buying pressure is evident, supporting the potential for continued price appreciation in the short to medium term.

(Click on image to enlarge)

More By This Author:

Indian Stock Elliott Wave Technical Analysis: Kotak Mahindra Bank
Elliott Wave Forecast: Northern Star Resources Ltd
Elliott Wave Technical Analysis: Vechain Crypto Price News For Friday, June 20