NZD / USD to sub 0.55?
Hi all,thanks for the view.
This analysis is 100% TA and includes no fundamental analysis component. I am not a finance professional or at all experienced in FOREX. I tend to have a bearish tendency in my reading of charts.
I am assuming that we are somewhere in wave 3 down of wave (C). These are medium-term targets. I expect a significant extension in wave 3 or 5 down. I don't expect wave (C) to meet the full 1:1 extension of wave A (as there is a tendency of this currency pair to fall slightly shorter than the 1:1 extension). Let's see how it develops.
There was a "wave failure" or a semi-truncated wave v / 5 in wave C up - which indicates significant selling pressure. After that occurred there was a steep price drop, and in my view, formation of wave 1 and 2 for a (larger scale) impulse wave down to complete the larger correction. This would mean 0.55 and below is on the table.
If not already in a trade you may prefer to wait until wave 3 terminates below the base of the wave B formation, as this would indicate that additional correction is required and allow you to avoid the wave 4 pullback.
A wee note to finish, the USD is itself in a correction and its strength will, in my view, increase in the short term before a significant loss of ground to most currencies. The ground that is lost now will be given back. Protect your funds everyone.
This analysis is 100% TA and includes no fundamental analysis component. I am not a finance professional or at all experienced in FOREX. I tend to have a bearish tendency in my reading of charts.
I am assuming that we are somewhere in wave 3 down of wave (C). These are medium-term targets. I expect a significant extension in wave 3 or 5 down. I don't expect wave (C) to meet the full 1:1 extension of wave A (as there is a tendency of this currency pair to fall slightly shorter than the 1:1 extension). Let's see how it develops.
There was a "wave failure" or a semi-truncated wave v / 5 in wave C up - which indicates significant selling pressure. After that occurred there was a steep price drop, and in my view, formation of wave 1 and 2 for a (larger scale) impulse wave down to complete the larger correction. This would mean 0.55 and below is on the table.
If not already in a trade you may prefer to wait until wave 3 terminates below the base of the wave B formation, as this would indicate that additional correction is required and allow you to avoid the wave 4 pullback.
A wee note to finish, the USD is itself in a correction and its strength will, in my view, increase in the short term before a significant loss of ground to most currencies. The ground that is lost now will be given back. Protect your funds everyone.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.