Happy Corner: Kiwi (NZD) pairs - Page 32
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  1. #311
    NZD USD Incomplete Elliott Wave Sequence

    NZD USD is showing 5 swings down from 2/6/2017 (0.7375) which means it’s an incomplete Elliott wave sequence and calls for another swing lower to complete 7 swings down from 2/6/2017 (0.7375) peak. First 3 swings completed on 3/9/2017 (0.6886) and bounce to 3/21/2017 (0.7091) was the 4th swing. Pair has since made a new low below 0.6886 which means we have started the next cycle lower with a target of 0.6739 – 0.6589 and ideally 0.6607 – 0.6492 area.

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    We can see 5 swings down from 2/6/2017 peak on this chart (please note these are 5 swings which is not the same as a 5 wave Impulse). As we explained above, 5 swings means the sequence is incomplete and makes the sequence bearish against 0.7091 high as indicated by the red invalidation line and the red arrow. Proposed 6th bounce should stay below 0.7091 high and pivot for the pair to continue lower in 7th swing. Ideally 6th swing should stay below the descending trend line as well which is currently at 0.7018.

  2. #312
    NZDUSD Elliott Wave View: Correction in progress

    Short term Elliott Wave view in NZDUSD suggests the decline to 0.6844 low ended cycle from 3/21 high in Minor wave W. Pair is currently correcting cycle from 3/21 high in 7 or 11 swing in Minor wave X before the decline resumes. The rally from 4/27 low (0.6844) is unfolding as a double three Elliott Wave structure where Minute wave ((w)) ended at 0.6937 as a Flat Elliott wave structure , and Minute wave ((x)) pullback ended at 0.69. Near term, pair is correcting cycle from 0.69 low within Minutte wave (b) and while dips stay above there, expect pair to resume higher towards 0.699 – 0.7014 area before the decline resumes. We expect Minor wave X rally to find sellers at 0.699 – 0.705 area for an extension lower or at least a 3 waves pullback as far as pivot at 0.709 high remains intact.

    NZDUSD 1 hour Elliott Wave Chart 05/03/2017

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  3. #313
    NZDUSD Elliott Wave View: Correction Ended

    Revised Elliott Wave view in NZDUSD suggests the decline from 3/21 high (0.709) is unfolding as a triple three Elliott Wave structure where Minute wave ((w)) ended at 0.6905, Minute wave ((x)) ended at 0.7053, Minute wave ((y)) ended at 0.6844 and Minute second wave ((x)) is proposed complete at 0.6968. Minute wave ((z)) is in progress and unfolding as a double three Elliott Wave structure where Minutte wave (w) is expected to complete at 0.6815 – 0.6846 area, then it should bounce in Minutte wave (x) to correct cycle from 5/2 high before pair resumes lower again. We don’t like buying the pair and expect bounces in Minutte wave (x) to find sellers in 3, 7, or 11 swing provided that pivot at 0.6968 high remains intact.

    NZDUSD 1 Hour Elliott Wave Chart 05/04/2017

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  4. #314
    NZDUSD Elliott Wave View: Downside Resumes

    Revised Elliott Wave view in NZDUSD suggests the decline from 3/21 high (0.709) is unfolding as a triple three Elliott Wave structure where Minute wave ((w)) ended at 0.6905, Minute wave ((x)) ended at 0.7053, Minute wave ((y)) ended at 0.6844 and Minute second wave ((x)) is proposed complete at 0.6968. Minute wave ((z)) is in progress and unfolding as a double three Elliott Wave structure where Minutte wave (w) ended at 0.6835 , and Minutte wave (x) is in progress to correct cycle from 5/2 high before pair resumes lower again. We don’t like buying the pair and expect bounces in Minutte wave (x) to find sellers in 3, 7, or 11 swing for more downside provided that pivot at 0.6968 high remains intact.

    NZDUSD 1 Hour Elliott Wave Chart 05/05/2017

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  5. #315
    NZDUSD Elliott Wave View: Extended Correction

    Revised Elliott Wave view in NZDUSD suggests the decline from 3/21 high (0.709) is unfolding as a leading diagonal Elliott Wave structure where Minute wave ((i)) ended at 0.6905, Minute wave ((ii)) ended at 0.7053, Minute wave ((iii)) ended at 0.6844, Minute wave ((iv)) ended at 0.6968. and Minute wave ((v)) of A ended at 0.6835. Pair is bouncing within Minor wave B to correct cycle from 3/21 high before the decline resumes. We don’t like buying the proposed bounce and expect sellers to appear once wave X bounce is complete in 3, 7, or 11 swing provided that pivot at 3/21 high (0.709) remains intact.

    NZDUSD 1 Hour Elliott Wave Chart

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"When I thought I couldn't go on, I forced myself to keep going. My success is based on persistence, not luck."
Norman Lear