NZD/USD: WAVE ANALYSIS

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NZD/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point0.5885
Take Profit0.6225, 0.6365
Stop Loss0.5845
Key Levels0.5300, 0.5515, 0.5845, 0.6225, 0.6365
Alternative scenario
RecommendationSELL STOP
Entry Point0.5840
Take Profit0.5515, 0.5300
Stop Loss0.5950
Key Levels0.5300, 0.5515, 0.5845, 0.6225, 0.6365

Growth is possible.

On the daily chart, the upward wave of the higher level (C) develops, within which the entry first wave 1 of (C) formed, a downward correction ended as the second wave 2 of (C), and the wave 3 of (C) develops. Now, the first wave of the lower level i of 3 has formed, a downward correction has ended as the second wave ii of 3, and the third wave iii of 3 has started, within which the wave (i) of iii is developing. If the assumption is correct, the NZD/USD pair will grow to the area of 0.6225–0.6365. In this scenario, critical stop loss level is 0.5845.

NZD/USD: WAVE ANALYSIS

NZD/USD: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 0.5845 with the targets at 0.6225–0.6365. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 0.5845 will let the asset go down to the area of 0.5515–0.5300.


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