NZD/USD New Bull Cycle?
Looking at the 4H chart, we can see that NZD/USD finished 5 waves up with its ABC correction. What is interesting is that wave C didn't manage to break below the previous wave 4, and we know that according to the Elliott Wave principle, not breaking below the previous wave 4 is a very bullish sign for a start of a new 5 wave intermediate cycle to the upside.
From a fundamental perspective, with all the inflation that is happening in the U.S., I expect to see the Dollar remaining weak towards at least the end of 2021 which gives us the opportunity to sell all pairs that start with the Dollar and buy all other major currencies (GBP, EUR, AUD, NZD...).
From a fundamental perspective, with all the inflation that is happening in the U.S., I expect to see the Dollar remaining weak towards at least the end of 2021 which gives us the opportunity to sell all pairs that start with the Dollar and buy all other major currencies (GBP, EUR, AUD, NZD...).
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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.