NZD/USD: Wave Analysis Report 15 April 2021

Apr 15, 2021

Current Trend: The pair may fall.

 On the daily chart, the upward wave (А) of B developed as a momentum, and a downward correction started to form as the wave (B) of B. Now, the wave A of (B) is developing, within which a local correction is ending to form as the fourth wave of the lower level iv of A. If the assumption is correct, the pair will fall to the levels of 0.6831–0.6708. In this scenario, critical stop loss level is 0.7267.

 Main scenario

 Short positions will become relevant during the correction, below the level of 0.7267 with the targets at 0.6831–0.6708. Implementation period: 7 days and more.


Alternative scenario

 The breakout and the consolidation of the price above the level of 0.7267 will let the pair grow to the levels of 0.7458–0.7700.


 Timeframe: Weekly

Recommendation: Sell

Entry Point: 0.7144

Take Profit: 0.6831, 0.6708

Stop Loss: 0.7267

Key Levels: 0.6708, 0.6831, 0.7267, 0.7458, 0.7700

 Alternative Scenario

 Timeframe: Weekly

Recommendation: Buy Stop

Entry Point: 0.7270

Take Profit: 0.7458, 0.7700

Stop Loss: 0.7205

Key Levels: 0.6708, 0.6831, 0.7267, 0.7458, 0.7700