Menu

NZD/USD Elliott Wave Weekly Forecast: 9th September to 23th September 2019

NZD/USD Elliott Wave Weekly Forecast: 9th September to 23th September 2019

NZD/USD Elliott Wave Weekly Forecast

NZD/USD Elliott Wave Weekly Forecast in 4 hours chart

 

Based on technical analysis the bullish 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 rise up now to prints a Bullish Zig Zag corrective Elliott wave pattern and traders should look for a buy trade. So, all those Forex traders who have followed my Elliott wave forecast have made the right decision as price has ascended.

 

Strong key support level is present at 0.6268 price area which is the originating point of Bullish impulse wave a leg. In my judgment, price action in NZD/USD currency pair is now to going to fall first to complete a bearish Zig Zag wave b leg. Next, expects a short term bottom in price action as well. So, market is going to remain bullish on a short term basis. Based on Elliott wave forecast, the current Bullish trend is part of a Bullish wave b corrective Elliott Wave pattern, wave Y leg in higher time frame.

 

Currently, Bullish corrective Elliott wave pattern wave c looks in-complete. So, a good idea is to look for a possible buy trading chance to join an up trend around 0.6350 price area. However; if the price of NZD/USD currency pair breaks below 0.6268 vital support level then up 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.

👉 Are you looking for a Forex Robot that offers realistic returns even when the markets are volatile or down? Golden Pickaxe is the BEST Forex robot using low risk and EARNING a whopping 47.93% monthly profit margin. You get a robot offering the best in terms of safety and guaranteed profits no matter the risks. A gold-driven EA robot, the robot was created and developed over ten years. It has the pedigree to offer gold traders a profitable all-year-long profit regardless of market conditions. We have tested the platform, and it has seen remarkable profit margins for the past 15 months. The well-known trader developer (Valeriia), put the robot out there for any trader to confirm its realistic profitability. And the robot was tested and seen to be even better than what we thought was the best, Waka Waka. Golden Pickaxe is now one of the best-proven forex robots that offer profitable outcomes, and all data are third-party verified independently via Myfxbook. The balance volume for Golden Pickaxe is there for anyone to see. And that means you get a transparent Forex robot guaranteeing results. Even when facing drawbacks of 37.47%, the robot balances the profits. With an automated trading robot, you can receive near-perfect signals for trading gold. And that’s what every trader needs when investing in Gold. So what are you waiting for? We have tested the robot and Guarantee it’s a perfect match for you. Start earning realistic profit margins from forex trading with a LOW-RISK thanks to Golden Pickaxe. We have been using it even when the gold market was risky. Thanks to this automated forex robot, you can earn 47.93% ROI or more per month consistently. Complete beginners to Forex can start and immediately start earning a stable and reliable income with it.  What's more? You don’t even have to deposit funds with your broker when using the Golden Pickaxe robot. Just register with a Broker such as IC Markets or Coinexx (for US-based traders); there’s no need to deposit your real funds with them. Instead, use the Golden Pickaxe robot to pass a funded account challenge on FTMO. No worries, it’s very easy to pass once you install the EA. Once you pass the challenge, FTMO funds your account with real live funds depending on the challenge you passed, then you can simply carry on trading with the EA on the live account and request payouts monthly whenever you want to withdraw your profits. All challenges and trading are done automatically by the Golden Pickaxe robot, so you don't have to worry. Or... if you don't like the idea of a trading challenge/evaluation, you can simply buy a cheap funded account with prop firms we recommend like FundYourFx, get instant funding of a real account, then start using the robot to trade, profit and make weekly withdrawals, very easy. If you have any questions or want help with the setup, head over to our live chat and ask for Corey Woods. Corey will help you with any issues, problems, or initial setup along the way. Here’s your chance to start trading Gold and earn with an AUTHENTIC, PROVEN, AND SAFE Forex Robot. Sign up today for a chance to get a reliable side income with GOLDEN PICKAXE. Click the button below to buy the EA, then contact me on live chat if you need any help setting up the whole thing.

Click Here To Buy Now
 

 

Now, at this point; I must acknowledge that the trend is 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 a leg. Now, price action is rising up to complete the Bullish corrective wave b leg and then expects a decline in price action to print bearish wave c leg which is going to complete bearish wave Y Double Zig Zag pattern. So, now market is moving up on a a short term basis to complete the bullish corrective wave b leg. The bearish corrective wave Y leg is the last and final decline as price is going to prints a bottom after that. Within the Bearish corrective Double Zig Zag Elliott pattern, all sub-waves must sub-divides into 5, 3, and 5 waves pattern.

 

The following Elliott Wave Bearish Double Zig Zag corrective pattern diagram shows us a completed Bearish double Zig Zag pattern within the frame work of Elliott wave principle.

 

Bearish Double Zig Zag

 

The Double bearish Zig Zag 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 highs (rises) and lows (retracements). Bearish double Zig Zag Elliott wave pattern in a down trending market could be seen inside the above image. The figure shows what a double Bearish Zig Zag wave pattern looks like. If a trader knows what a bearish double Zig Zag 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 double Zig Zag consists of two Zig Zags Elliott wave patterns, joined by an X wave. We use W English alphabet to label first Zig Zag wave leg and we use Y English alphabet to label second Zig Zag wave leg. Please take a note that Zig Zag pattern is a corrective Elliott wave pattern which appears at a pull back in a main market trend and so the double Zig Zag.

 

Based on my NZD/USD technical analysis using Elliott Wave Forecast in daily chart, we have got an in-complete Bearish corrective wave Y leg and price action is now rising up to prints Bullish corrective wave b 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 to up and then drop more to prints a bearish corrective wave Y leg which is going to complete Bearish Double Zig Zag Elliott wave pattern. To me; in four hours chart of NZD/USD currency pair the bullish leg – corrective wave c 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 c 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 0.6544 price area, as price action is going to drop more towards 0.6155 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 bullish trend in NZD/USD 4 hours time frame and a good idea is to take a buy trade around 0.6350 price level and price is probably going to rise up towards 0.6459 price level. However; if the price of NZD/USD currency pair breaks below 0.6268 vital support level then bullish 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 *

Profitfarmers

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.