Forex Trading Analysis
Hello Guys today is Friday, August 23rd, 2024 I am going to analyze the nzdusd currency pair let us start with the top to bottom Eliot wave analysis inside the daily time frame the trend is up in the New Zealand dollar versus the US dollar here daily time frame support is present at 0.5772 price level price action is most likely going to drop and then rise up more to complete bullish W see the zigzag corrective leg in coming trading days decisive bearish break below 0.5772 support area is going to end up Trend in the daily chart of nzdusd currency pair
At 4hour time frame price action is printing higher swing highs and higher swing lows to me nzdusd pair Trend looks up in 4hour time frame
at 1 hour time frame the trend is up in 1 hour chart in Ouray support is present at 0.612 price level price action is most likely going to rise up to print bullish wave 5 impulse leg which offers a chance to join an uptrend in nzd USD here a decisive bearish break below 0.612 support level is going to end uptrend in 1 hour chart of New Zealand dollar versus United States dollar currency pair
More specific the green color highlighted area offers a buying opportunity which is the previous fourth wave of lesser
