NZD/USD: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 0.5900 |
| Take Profit | 0.6411, 0.6540 |
| Stop Loss | 0.5856 |
| Key Levels | 0.5517, 0.5765, 0.5856, 0.6411, 0.6540 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.5850 |
| Take Profit | 0.5765, 0.5517 |
| Stop Loss | 0.5910 |
| Key Levels | 0.5517, 0.5765, 0.5856, 0.6411, 0.6540 |
Growth is possible.
On the daily chart, a downward correction of the higher level formed as the wave (B), and the development of the upward wave (C) started, within which the entry first wave of the lower level 1 of (C) formed. Now, a local correction has ended as the second wave 2 of (C), and the third wave 3 of (C) develops, within which the wave (i) of i of 3 has formed. If the assumption is correct, the NZD/USD pair will grow to the area of 0.6411–0.6540. In this scenario, critical stop loss level is 0.5856.
Main scenario
Long positions will become relevant above the level of 0.5856 with the targets at 0.6411–0.6540. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 0.5856 will let the asset go down to the area of 0.5765–0.5517.
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