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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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NZDUSD, bears in the driving seat

NZDUSD reached 0.8777 in the beginning of the month, but was unable to hold the bullish momentum, reversing to the downside towards 0.8470, where the pair is currently trading. What we are interested in is the wave structure of this 300-pip move. Three waves would mean that the larger trend is still up, while an…

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