Menu

NZD/USD Elliott Wave Weekly Forecast: 26th August to 9th September 2019

× Alert!
  • - Can't withdraw your funds from this fraudulent company?
  • - Have they asked you to pay excessive withdrawal fees or to deposit more funds?
  • - Or is there an excessive delay in processing your withdrawal?
  • - Are they trying to push you into depositing more money with them even without withdrawing the one you've already put in?

It's a CONFIRMED scam company, recover your stolen funds by clicking the button below, then fill out the form and you will get a FREE Mychargeback consultation today:


Click the button below, fill out the form to recover your lost funds from this scam company


Click Here To Recover Your Stolen Funds

NZD/USD Elliott Wave Weekly Forecast: 26th August to 9th September 2019

NZD/USD Elliott Wave Weekly Forecast

NZD/USD Elliott Wave Weekly Forecast in 4 hours chart

Based on technical analysis the bearish trend is present in NZD/USD currency pair, 4 hours time frame based on NZD/USD Elliott Wave Weekly Forecast. As I have forecasted few hours ago, the price of NZD/USD pair is going to drop lower now to prints a Bearish Impulse Elliott wave pattern and traders should look for a sell trade. So, all those Forex traders who have followed my Elliott wave forecast have made the right decision as price has descended.

Strong key resistance level is present at 0.6497 price area which is the termination point of Bullish Zig Zag corrective iv leg. In my judgment, price action in NZD/USD currency pair is now to going to fall more to complete a bearish impulse wave v leg. Next, expects a short term bottom in price action as well. So, market is going to remain bearish on a short term basis. Based on Elliott wave forecast, the current Bearish trend is part of a Bearish corrective Elliott Wave pattern, wave Y leg in higher time frame.

Currently, Bearish impulse Elliott wave pattern wave v looks in-complete. So, a good idea is to look for a possible sell trading chance to join the down trend around 0.6365 price area. However; if the price of NZD/USD currency pair breaks above 0.6497 vital resistance level then down trend is going to end. In such a market scenario, it would be best not to trade the Forex market and re-do the NZD/USD Elliott wave analysis in four hours chart.

Now, at this point; I must acknowledge that the trend is also bearish in higher time frame of NZD/USD currency pair.

If you are a trader who prefer to use robots and EAs to automate your trades and make them very profitable for you or require very good forex/stock training resources, please check this page.

NZD/USD Elliott Wave Weekly Forecast in daily chart

Below is the daily chart of NZD/USD pair with my Elliott wave forecast which shows us a big picture and a well started bearish trend as well.

NZD/USD Elliott Wave Weekly Forecast

To me; price has printed Bullish corrective wave X leg. Now, price action is falling down to complete the Bearish impulse wave a leg which is going to complete bearish wave Y Double Zig Zag pattern. So, now market is moving lower on a long term basis to complete the bearish impulse wave a leg. The bearish impulse wave a leg is not the last and final decline as price is going to move up and down several more times. Within the Bearish Impulse wave Elliott pattern, all sub-waves must sub-divides into 5, 3, 5,3 and 5 waves pattern.

The following Elliott Wave Bearish Impulse wave pattern diagram shows us a completed Bearish Impulse wave pattern within the frame work of Elliott wave principle.

Bearish Impulse Wave

The Bearish Impulse Wave pattern of the Elliott wave principle shows that how price action does not moves in a straight line fashion but in a series of lower swing highs and lower swing lows. Bearish Impulse Elliott wave pattern in a down trending market could be seen inside the above image. The figure shows what a Bearish Impulse Elliott wave pattern looks like. If a trader knows what a Bearish Impulse Wave pattern looks like, then it would become much easy for a currency trader to actually analyze the Forex charts and make a trading decision as well.

A Bearish Impulse wave consists of total five waves. Three bearish legs in the favour of a down trend and two bullish corrective Elliott wave patterns, against the down ward market trend. We use numbers to label impulse wave 1, 2, 3, 4 and 5 and inside wave 2 and 4, we use English alphabets to label corrective wave structures. Please take a note that Bearish Impulse Wave pattern is a motive Elliott wave pattern which appears at a trending market environment and moves in the favour of larger down ward market trend.

Based on my NZD/USD technical analysis using Elliott Wave Forecast in daily chart, we have got a completed Bearish corrective wave X eg and price action is now falling down to prints Bearish impulse wave Y leg. However; it is possible if price breaks above blue colour resistance line then forecast will become in-valid. Now, price action is probably going to move sideways and then drop more to prints a bearish impulse wave Y leg which is going to complete Bearish Impulse wave pattern. To me; in four hours chart of NZD/USD currency pair the bullish leg – corrective wave iv pattern which is part of a higher degree wave Y leg in daily chart is just a bullish pull back in a down trend leg as mentioned above as wave iv Bullish Zig Zag corrective wave pattern inside a four hours price chart.

Strong key resistance level is present at 0.6789 price area in NZD/USD daily chart. So, I expect market to first move sideways for next coming trading days and then may be starts the decline. So, in my opinion market is going to remain bearish overall. On a medium to long term basis, expects a bearish leg in market. Next, market is probably going to resume the bearish trend after that in NZD/USD currency pair, in daily chart.

Now, when an existing Bearish Elliott Wave Weekly Forecast in NZD/USD is going to fail?

Well, the weekly forecast is good for about next two weeks time and price should stays below 0.6789 resistance area in daily time frame to keep the down trend alive. A clear bullish break out in price action above 0.6789 daily chart resistance area will end the down trend and bearish Elliott Wave weekly analysis; in such a market scenario, it would be best not to trade the market and re-analyze NZD/USD daily chart.

Summary

Based on NZD/USD Elliott Wave Weekly Forecast the trend is down in daily chart and a good idea is to look for a sell trade around 0.6341 price area, as price action is going to drop more towards 0.6055 price area but a clear bullish break out in price action above 0.6789 vital resistance area will end the down trend. On a medium term basis, it is a bearish trend in NZD/USD 4 hours time frame and a good idea is to take a sell trade around 0.6365 price level and price is probably going to drop lower more towards 0.6244 price level. However; if the price of NZD/USD currency pair breaks above 0.6497 vital resistance level then bearish trend is going to end. We recommend trading with these top-rated brokers when using our signals/analyses/forecasts as they handle your trades quicker and more efficiently with very low spreads and most of them have high trade execution rate.

Leave a Reply

Your email address will not be published. Required fields are marked *

YouTube video

Follow Us

Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.

Copyright © 2022 · Valforex.com | Privacy Policy | Earnings Disclaimer DMCA.com Protection Status