Technical Analytics Report

NZD/USD: Wave Analysis Report 18 March 2021

NZD/USD: Wave Analysis Report 18 March 2021


The pair is in a correction, a fall is possible.

 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 the wave of the lower level iv of A is developing. If the assumption is correct, the pair will fall to the levels of 0.6993–0.6708. In this scenario, critical stop loss level is 0.7465.

 Main Scenario

 Short positions will become relevant during the correction, below the level of 0.7465 with the targets at 0.6993–0.6708. Implementation period: 7 days and more.

 Alternative Scenario

 The breakout and the consolidation of the price above the level of 0.7465 will let the pair grow to the levels of 0.7700–0.7850.

 Scenario

 Timeframe: Weekly

Recommendation: Sell

Entry Point: 0.7249

Take Profit: 0.6993, 0.6708

Stop Loss: 0.7465

Key Levels: 0.6708, 0.6993, 0.7465, 0.7700, 0.7850

 Alternative Scenario

 Timeframe: Weekly

Recommendation: Buy Stop

Entry Point: 0.7470

Take Profit: 0.7700, 0.7850

Stop Loss: 0.7390

Key Levels: 0.6708, 0.6993, 0.7465, 0.7700, 0.7850


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