Technical Analytics Report

NZD/USD: Wave Analysis Report 04 March 2021

NZD/USD: Wave Analysis Report 04 March 2021

The pair may grow.

 On the daily chart, the upward wave (А) of B develops as a momentum, within which the wave 5 of (A) forms. Now, the fifth wave of the lower level v of 5 of (A) is developing, within which the wave (iii) of v has formed, and the local correction has ended as the wave (iv) of v. If the assumption is correct, the pair will grow to the levels of 0.7450–0.7563. In this scenario, critical stop loss level is 0.7154.

 Main Scenario

 Long positions will become relevant during the correction, above the level of 0.7154 with the targets at 0.7450–0.7563. Implementation period: 7 days and more.

 Alternative Scenario

 The breakdown and the consolidation of the price below the level of 0.7154 will let the pair go down to the levels of 0.6996–0.6871.

 Scenario

 Timeframe: Weekly

Recommendation: Buy

Entry Point: 0.7260

Take Profit: 0.7450, 0.7563

Stop Loss: 0.7154

Key Levels: 0.6871, 0.6996, 0.7154, 0.7450, 0.7563

 Alternative Scenario

 Timeframe: Weekly

Recommendation: Sell Stop

 Entry Point: 0.7150

Take Profit: 0.6996, 0.6871

Stop Loss: 0.7210

Key Levels: 0.6871, 0.6996, 0.7154, 0.7450, 0.7563


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