Nzd / Usd keep going up !!
Nzd / Usd keep going up !!
In this analysis, I use the Elliott Wave analysis point of view. I tried to find the wave notation 1,2 and 3 then tried to break it down to the smaller wave notation.
At the moment I believe Nzd / Usd is completing wave 3, with fibo extension, I measure waves 1 and 2, and wave 3 is at least now more than the value of 1 fibo extension, there is a possibility that the price will continue moving towards the value 1.618.
As we know that wave 3 consists of 5 impulse waves, so I am looking for wave (5).
I placed the fibo extension start wave (2), headed for wave (3) and it seems that at the moment the price is moving towards the value of 1 fibo extension.
On this placement, we can see that there is a fibo cluster between the expected wave 3 and the end of wave (5) of wave 3 in the price range which is not too far away.
Fibo clusters can be used as a reference to find potential resistance. Therefore, I assume that the price will continue to move up and even reach the fibo cluster area in the price range 0.70350 - 0.70800 with a validation area boundary at 0.64700.
As long as the price does not break the validation area, the buy analysis for this pair will still be valid
In this analysis, I use the Elliott Wave analysis point of view. I tried to find the wave notation 1,2 and 3 then tried to break it down to the smaller wave notation.
At the moment I believe Nzd / Usd is completing wave 3, with fibo extension, I measure waves 1 and 2, and wave 3 is at least now more than the value of 1 fibo extension, there is a possibility that the price will continue moving towards the value 1.618.
As we know that wave 3 consists of 5 impulse waves, so I am looking for wave (5).
I placed the fibo extension start wave (2), headed for wave (3) and it seems that at the moment the price is moving towards the value of 1 fibo extension.
On this placement, we can see that there is a fibo cluster between the expected wave 3 and the end of wave (5) of wave 3 in the price range which is not too far away.
Fibo clusters can be used as a reference to find potential resistance. Therefore, I assume that the price will continue to move up and even reach the fibo cluster area in the price range 0.70350 - 0.70800 with a validation area boundary at 0.64700.
As long as the price does not break the validation area, the buy analysis for this pair will still be valid
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.