Jump to content

New Zealand Dollar/U.S.Dollar (NZDUSD) Elliott Wave Technical Analysis 26 February 24


Recommended Posts

NZDUSD Elliott Wave Analysis Trading Lounge Day  Chart, 26 February 24

New Zealand Dollar/U.S.Dollar (NZDUSD) Day Chart

NZDUSD Elliott Wave Technical Analysis

FUNCTION:   Trend

MODE: Impulsive

STRUCTURE: Blue wave 1

POSITION:  Black wave 3

DIRECTION NEXT LOWER DEGREES: Blue wave 2

DETAILS:black wave 2 looking completed at 0.60363 .  Now blue wave 1 of black  wave 3  is in play. Wave Cancel invalid level: 0.60512

The "NZDUSD Elliott Wave Analysis Trading Lounge Day Chart" dated 26 February 24, provides a comprehensive analysis of the New Zealand Dollar/U.S. Dollar (NZDUSD) currency pair on a daily timeframe, employing Elliott Wave principles to discern potential market movements.

The designated "FUNCTION" is "Trend," indicating the primary objective is to identify and capitalize on the prevailing market direction. In this context, the focus is on capturing impulsive waves that define the strength and persistence of the overarching trend.

The specified "MODE" is "Impulsive," signaling a market environment characterized by strong, forceful, and directional price movements. This suggests that the current phase in the market is conducive to identifying and participating in the primary trend.

The described "STRUCTURE" is "Blue wave 1," denoting the specific wave within the Elliott Wave hierarchy. Blue wave 1 represents the initial phase of a larger impulsive move, typically marking the beginning of a new trend.

The identified "POSITION" is "Black wave 3," indicating the current position within the broader Elliott Wave pattern. Wave 3 is often the most dynamic and extended wave in the sequence, reflecting a powerful surge in the direction of the dominant trend.

In terms of "DIRECTION NEXT LOWER DEGREES," the analysis emphasizes "Blue wave 2," suggesting the anticipated corrective phase following the completion of black wave 3.

The "DETAILS" section notes that "black wave 2 looking completed at 0.60363. Now blue wave 1 of black wave 3 is in play." This suggests the conclusion of a corrective phase (black wave 2) and the initiation of the next impulsive move (blue wave 1 of black wave 3).

The "Wave Cancel invalid level" is set at 0.60512, serving as a critical reference point. A breach beyond this level would invalidate the current wave count and prompt a reevaluation of the analysis.

In summary, the NZDUSD Elliott Wave Analysis for the daily chart on 26 February 24, indicates a continuation of the impulsive move, with blue wave 1 of black wave 3 in progress. Traders are advised to monitor the unfolding of blue wave 1 and consider the invalidation level at 0.60512.

 

0aa43ccc482ac36762256c23d228a4bd

 

 

NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 26 February 24

New Zealand Dollar/U.S.Dollar (NZDUSD) 4 Hour Chart

NZDUSD Elliott Wave Technical Analysis

FUNCTION:   Trend

MODE: Impulsive

STRUCTURE: red wave 3  

POSITION:  Blue wave 1

DIRECTION NEXT LOWER DEGREES: red wave 4

DETAILS:red wave 2 of blue wave 1 looking completed at 0.60512 .  Now red wave 3 of blue wave 1  is in play. Wave Cancel invalid level: 0.60512

The "NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart" dated 26 February 24, presents a detailed analysis of the New Zealand Dollar/U.S. Dollar (NZDUSD) currency pair using Elliott Wave principles. The focus is on a 4-hour chart, allowing for a more granular examination of price movements.

The identified "FUNCTION" is "Trend," indicating that the analysis aims to capture the prevailing direction in the market. This suggests an interest in identifying and riding the impulsive waves that contribute to the overall trend.

The specified "MODE" is "Impulsive," signaling that the current market conditions are characterized by strong, forceful, and directional price movements. Impulsive waves typically indicate the primary trend's strength and persistence.

The described "STRUCTURE" is "Red wave 3," highlighting the current position within the larger Elliott Wave pattern. Wave 3 is often the strongest and longest phase of the Elliott Wave cycle, representing a powerful surge in the direction of the dominant trend.

The designated "POSITION" is "Blue wave 1," indicating the specific wave within the Elliott Wave hierarchy. Blue wave 1 represents the initial phase of the larger trend cycle and marks the beginning of a new impulsive move.

In terms of "DIRECTION NEXT LOWER DEGREES," the analysis emphasizes "Red wave 4," suggesting the anticipated correction or consolidation phase following the completion of red wave 3.

The "DETAILS" section notes that "red wave 2 of blue wave 1 looking completed at 0.60512. Now red wave 3 of blue wave 1 is in play." This indicates the conclusion of a corrective phase (red wave 2) and the commencement of the next impulsive move (red wave 3 of blue wave 1).

The "Wave Cancel invalid level" is set at 0.60512. This level serves as a crucial reference point, beyond which the current wave count would be considered invalid.

In summary, the NZDUSD Elliott Wave Analysis for the 4-hour chart on 26 February 24, suggests a continuation of the impulsive move, with red wave 3 of blue wave 1 in progress. Traders are advised to monitor the unfolding of red wave 3 and consider the invalidation level at 0.60512.

Technical Analyst : Malik Awais

 

 

89e0aa61ea21d52bb4dfd806e82060c3

 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • I have not been a fan of either of exchanges and wallets native tokens but would wanna explore it now. I took interest from the current hype around BNB, OKB and BGB. These tokens particularly BNB and BGB has shown strength which is obviously due to increase in demand to take part in the most of the launchpool. BNB rose almost 80% in the past 1 year, BGB was on the spotlight with about 190% in a year. OKB may not be left out due to it's potential but has made any significant movement recently. Wallet tokens on the hand have also been doing well but may not be compared to Centralized exchanges imho; I have also monitored few wallet particularly trust wallet and C98 wallet. My best guess is we could be seeing the wallet tokens making impressive price action as we approach post halving due to increase in transactions and I wonder if any one here is considering the prospect BWB token for Bitget wallet. Launching pretty soon and airdrop participation in play. I would appreciate your speculative opinion on it potentials.
    • In the realm of cryptocurrency exchanges, playing by the rules isn’t just a suggestion—it’s a must for staying in the game. Most major centralized exchanges (CEXs) strive to adhere to these regulations, implementing measures to prevent money laundering and illicit activities. However, a recent controversy has emerged with BingX, a top CEX, defying US sanctions by allowing Iranian users full access to its platform. BingX facilitates Iranian Rial trading, directly violating US sanctions. They allow Iranian users to trade cryptocurrencies without KYC verification. This, along with offering peer-to-peer (P2P) transactions using Iranian fiat currency, further raises red flags. This incident is reminiscent of the past troubles faced by giants like Binance, who were caught facilitating transactions for sanctioned individuals, resulting in a $4.5 billion plea deal with US authorities in 2023. The question remains: will this defiance by BingX lead to its downfall? Regulatory bodies in the US, like the SEC or DOJ, might take action.However, the severity of the situation raises questions about the long-term viability of the exchange and whether it may face the prospect of closure or severe penalties for its actions. As governments grapple with the complexities of digital assets, CEXs that prioritize expansion over compliance will likely face increasing scrutiny and potential consequences.  
    • The exchange continues to offers it's  users significant opportunities through its ecosystem products like PoolX and Launchpool. By participating in these platforms, users can benefit from various services such as staking, liquidity mining, and accessing new project opportunities. PoolX enables users to stake their assets and earn rewards through flexible investment options. Launchpool provides users with the chance to participate in early-stage project offerings. Overall, engaging with Bitget ecosystem products can diversify investment portfolios and facilitate exposure to new and promising projects in the crypto space.
×
×
  • Create New...
us