Nasdaq and NZDUSD Intra-day Looks – Elliott wave Analysis 

intraday nzdusd

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As expected, Nasdaq is still looking for more weakness since we have seen a sharp drop from 7130 resistance level. Currently can be consolidating before a continuation lower towards new lows, especially if price breaks channel support line and 6967 bearish confirmation level.

Nasdaq, 1h

intraday nasdaq

Kiwi bounced sharply and as you can see in five waves into wave a/i, so temporary bottom at 0.6686 can be in place. But, as we know after every five waves, a three-wave a)-b)-c) correction follows into wave b/ii, so watch out for a drop soon, ideally back to around 0.6750 – 0.6730 support area, from where we may see another rally for wave c/iii towards 0.68 – 0.69 region. If Kiwi from any reason drops back below 0.6686 lows, then we may adjust the view.


intraday nzdusd

Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.


By Gregor Horvat

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