NZD/USD – Crossing the Rubicon

3 min read
HubertM

HubertM

Forex broker

Dear Traders,

The NZD/USD dropped below a highly significant support level today. This post will provide a brief price-action review for the currency pair and a forecast for the next few weeks ahead.

Bullish Scenario is Off the Cards


The NZD/USD broke below the low of Nov 2017 earlier today, thereby opening up the flood gates for a lot more losses over the coming trading weeks. Alarm bells for such a bearish break were on the horizon for a while from an Elliott Wave and fundamental point of view, and the dip below 0.6780 has now fully confirmed that a medium-term bullish scenario is off the cards for good.

The sideways correction since 2015 is very difficult to label with any high degree of certainty, but there is a good chance that it culminated either at the Feb or Apr 2018.

The white labels, showing a 1-2 since Apr, considers that the long-term correction may have been a double three (wxy), which ended in a triangle. This could now open the way for an eventual break of the 2015 low of 0.6150.

The green labels show a similar price path as the first, only slightly less bearish. It suggests that the current drop could be part of an extension of the long-term correction since 2015 via a potential bearish zigzag. It has very similar implications for the weeks ahead, except that another significant bullish pullback could commence once price completes the 5th wave of the first impulse. The closest support lies around 0.6680. If we see a strong bullish reaction then, we have probably witnessed the completion of this first impulse since Feb 2018

There is no good reason for investors to be interested in the NZD. Rising interest rates in the US and a lagging NZ economy provide ample reasons for further losses during the coming months.

All the best along your trading journey.

Hubert

.

Fibonacci Trading Strategy & Tools

Learn to apply Fibonacci rules and tools in your trading routine.

* free Fibonacci Handout

* actionable trading strategy & faq’s

* precise trading examples 

Free Forex & CFD Range Bar Trading System

In this trading system you will find: 

✅  range bar strategy pdf

MACD Alert

✅  Range Bar EA & Indicators

ecs.heiken-ashi-system & two indicators for trend-following

Two of our favorite indicators for trend-trading. 

✅  ecs.camarilla & ecs.heiken-ashi indicators

✅  actionable trading system & faq’s

✅  precise trading examples 

ecs.camarilla🎯🎯🎯 – versatile strategy & indicator

Nenad teaches how to apply his favorite camarilla indicator

✅  free ecs.camarilla indicator

✅  actionable trading strategy & faq’s

✅  precise trading examples 

ecs.SWAT🎯🎯🎯 – Wave Analysis Trading at It’s Best

Chris goes an extra mile to provide the most comprehensive
wave analysis trading method on the market.

✅  8 hours of video materials via 25 lessons

✅  lifetime access to SWAT indicators & tools

✅  free month of live trading

*Currently 86% of profit setups at entry after the price hits above the 3d or 4th Wizz level 🚀🚀🚀  

Fibonacci Sequence Trading🎯🎯🎯: Wizz Tool & Strategy

Wizz allows traders to know when and where price is expected to accelerate
and show strong momentum.

✅  Fibonacci Sequence Scripts – Wizz*

✅  Handout Strategy

✅  Tips & Trading Wisdom

*Currently 86% of profit setups at entry after the price hits above the 3d or 4th Wizz level 🚀🚀🚀  

ecs.START🎯🎯🎯: Tools, Indicators & Handouts

Our most popular trading tools and wisdom are FREE now. Join and receive a
mix of practical education and actionable trading tools right now.

✅  Fibonacci Sequence Scripts – Wizz*

✅  HA and Fibs Indicators & Handouts

✅  Money Management Tips & more…

*Currently 86% of profit setups at entry after the price hits above the 3d or 4th Wizz level 🚀🚀🚀  

Subscribe to our mailing list

* indicates required


Subscribe to our mailing list

* indicates required


ecs.START🎯🎯🎯: Tools, Indicators & Handouts

Our most popular trading tools and wisdom are FREE now. Join and receive a
mix of practical education and actionable trading tools right now.

✅  Fibonacci Sequence Scripts – Wizz*

✅  HA and Fibs Indicators & Handouts

✅  Money Management Tips & more…

*Currently 86% of profit setups at entry after the price hits above the 3d or 4th Wizz level 🚀🚀🚀