NZDUSD Intraday Bullishness

NZDUSD bottomed at 0.6620 and bounced up to 0.6770. This recovery was immediately followed by a new decline to 0.6684 so far. What to expect from now on in the short term? The Elliott Wave Principle might help us find the answer. First, we need to take a look at the 15-minute chart of NZDUSD,…

Read More »

NZDUSD On The Verge Of Reversal?

Those of you, who have read “NZDUSD Approaching A Major Resistance”, know that we have been bearish on NZDUSD for a long time now. However, we would not be bearish forever. Now seems to be a good time to reassess the situation and see if we could find some early signs of a probable reversal.…

Read More »

NZDJPY: Four Reasons Were Enough

More than a month ago, on January 10th, we posted “NZDJPY Has Four Technical Reasons To Fall”, saying that “NZDJPY should soon be expected to form a top and reverse to the downside, probably towards 80.00.” By the time it was published, NZDJPY was trading around 92.70. On February 3rd, it touched 84.03, so it…

Read More »

NZDUSD To The Target And Beyond

It’s been 7 months since we published “NZDUSD Approaching a Major Resistance” on June 30th, 2014. The forecast assumed NZDUSD is getting close to the point of reversal, somewhere in the 0.88 – 0.89 area. This is the chart we used to make this assumption: Soon after that, the pair topped at 0.8835 on July…

Read More »

NZDJPY Has Four Technical Reasons to Fall

The NZDJPY exchange rate took a hard hit during the crash of 2007-2009, falling down from the heights of 97.70 to as low as 44.20. The first week of February 2009 gave the start of a huge recovery, which led the pair 50 figures higher to the 94.00 mark and is still in progress. However,…

Read More »

NZD USD and the lack of direction

NZD USD is clearly in a consolidation. The exchange rate appears to be locked between 0.8030 and 0.7650 since the end of September. According to the Elliott Wave Principle, there are only two Elliott Wave patterns, which can explain NZDUSD‘s absence of direction – a flat or a triangle. Let’s take a look at the 4-hour…

Read More »

NZD USD: A Larger Recovery Ahead?

The last time we mentioned NZD USD in a forecast was on October 27th. In an article, called “NZDUSD ready to resume downtrend?” we assumed the pair should soon regain negative bias. The following chart shows how the situation looked like 13 days ago. According to the Elliott Wave Principle, after every 5-3 wave cycle the…

Read More »

NZDUSD 2 days ahead of the news

Yesterday, on October 29, 2014, the FOMC announced the end of the quantitative easing (QE) program. After the announcement the US dollar rose sharply against the other currencies. Most people would say that the FOMC decision was the reason for this. That is why they have been waiting for it in order to make their…

Read More »

NZDUSD ready to resume downtrend?

A sharp reversal occurred shortly after NZDUSD reached the 0.80 mark. Is this the first stage of the downtrend resumption or just another corrective decline? It seems that the corrective recovery from 0.7704  in NZDUSD is finally over. The price movement is slow and choppy with a lot of overlapping waves, which is a typical…

Read More »

The New Zealand Dollar to suffer more?

The New Zealand dollar bottomed close to 0.77 against the US dollar in the end of September and has been trading above that level ever since. However, in our previous update on this pair we stated, that “0.7350 should be reached before we start looking for a bottom”. We still think so, which means that the…

Read More »

1100-pip move predicted in NZD USD

On July 10th 2014 NZD USD hit 0.8833. Today, September 29th, the exchange rate touched 0.7704. Could this 1100-pip move be predicted? Yes, it could and it was. It was June 30th 2014, when we published “NZDUSD approaching a major resistance”. The next chart shows how NZDUSD looked like on that day. As you can…

Read More »

NZD USD intraday confirmation

After showing you the bigger picture of NZD USD last week, now it is time to go deeper into the details. The 15-minute chart of this currency pair seems to be confirming the idea of a bullish price movement. It shows a very nice 5-3 Elliott Wave cycle. According to the Elliott Wave Principle, we…

Read More »

NZD USD bulls to return for a while

“There is still some room for NZDUSD to reach 0.8850 – 0.8900, but if this happens, it should not be taken as a bullish signal.” It was June 30th, when we said that in an article, called “NZDUSD approaching a major resistance”. Well, the resistance turned out to be even stronger, since the NZD USD…

Read More »

NZDUSD approaching a major resistance

NZDUSD is getting closer to 0.8800, which may boost the bulls’ confidence, but an Elliott Wave analyst never relies only on rising prices. The weekly chart shows why. As you can see the whole price action since March 2009 looks corrective – like a double zig-zag, labeled (W)-(X)-(Y). The minimum requirement for wave (Y) is…

Read More »

NZDUSD intraday reversal

On May 28th we showed you a forecast of NZDUSD, expecting a temporary rise in wave (2)/B. A chart from this analysis is given below. If you have been following this pair, you should have noticed that it made some new lows. However, our expectations for a three-wave rally are still valid, especially in case of…

Read More »