NZDUSD - Forex Majors | Elliott Wave Patterns | November 2019
NZD/USD - Elliott Wave Technical Analysis
Structure & Degree: 3-swings Sequence in a Primary Degree Y (pink)
- Intermediate (A) (blue) - Sharp Zig-Zag
- Intermediate (B) (blue) - Complex Expanding Flat in Minors WXY (turquoise)
- Intermediate (C) (blue) - Bullish Impulse
Minor 1 (green): 5-swing sequence, decomposed as a 5-3-5-3-5 in Minutes i ii iii iv v (green)
Minor 2 (green): Complex Double Three in Minutes wxy (purple)
Current Position & Pattern:
- Minute y (purple), bearish 3-swings or 5-swings sequence
Expected Swing:
- Minor 3 (green) accumulation cylinder: 3 of 3's Impulse, Bullish Sequence
Technicals & Confirmations:
- 61.8 or 71.6% Fibonacci Retracements of Minor 1 (green)
- 161.8% or 200% Fibonacci Extensions of Minutes w & x (purple)
- Bullish Divergence at the Fibs
- Ascending Channel, lower trend-line support
- Bullish Harmonic Structure
Structure & Degree: 3-swings Sequence in a Primary Degree Y (pink)
- Intermediate (A) (blue) - Sharp Zig-Zag
- Intermediate (B) (blue) - Complex Expanding Flat in Minors WXY (turquoise)
- Intermediate (C) (blue) - Bullish Impulse
Minor 1 (green): 5-swing sequence, decomposed as a 5-3-5-3-5 in Minutes i ii iii iv v (green)
Minor 2 (green): Complex Double Three in Minutes wxy (purple)
Current Position & Pattern:
- Minute y (purple), bearish 3-swings or 5-swings sequence
Expected Swing:
- Minor 3 (green) accumulation cylinder: 3 of 3's Impulse, Bullish Sequence
Technicals & Confirmations:
- 61.8 or 71.6% Fibonacci Retracements of Minor 1 (green)
- 161.8% or 200% Fibonacci Extensions of Minutes w & x (purple)
- Bullish Divergence at the Fibs
- Ascending Channel, lower trend-line support
- Bullish Harmonic Structure
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