FOREX Technical Analysis: NZD/USD Drop Would Present Bullish Opportunity

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.6672-0.0006

Daily Bars

FOREX_Technical_Analysis_NZDUSD_Drop_Would_Present_Bullish_Opportunity_body_nzdusd.png, FOREX Technical Analysis: NZD/USD Drop Would Present Bullish Opportunity

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The NZDUSD has headed straight up since 8170. Given the reaction at channel resistance Thursday and Friday’s inside day, there is the possibility that the advance from 8052 composes wave B of a triangle or flat that began on 9/28. That scenario is not viewed as probable as long as price is above 8170 however. A Fibonacci confluence and August 2011 high intersects with a channel at the end of December

FOREXTrading Strategy: Weakness to or below 8300 would present an opportunity to buy against 8170 for a move towards 8550 by the end of the year.

LEVELS: 8237 8267 8308 8355 8400 8472

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3486-0.0001-0.01%
    USDSGD=X
    1.49110.000.00%
    EURSGD=X
    2.1045-0.0001-0.01%
    GBPSGD=X
    90.8919+0.0226+0.02%
    SGDJPY=X
    5.7487+0.0005+0.01%
    SGDHKD=X
    2.8364+0.0002+0.01%
    SGDMYR=X
    9,853.2637+0.8018+0.01%
    SGDIDR=X
    4.6036+0.00020.00%
    SGDCNY=X
    1.0113-0.0003-0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,168.50-5.80-0.49%
    GCV15.CMX
    15.76-0.05-0.31%
    SIZ15.CMX
    63.50+0.86+1.36%
    ^XAU
    2.530.00-0.18%
    HGU15.CMX
    52.45-4.48-7.87%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.55-0.10
    ^FVX
    2.28-0.12
    ^TNX
    3.07-0.12
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.168+0.012+7.69%
    5DN.SI
    0.295-0.005-1.67%
    5WA.SI
    0.172-0.020-10.42%
    5GB.SI
    0.715-0.035-4.67%
    N21.SI
    0.905-0.005-0.55%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.335+0.085+34.00%
    Y06.SI
    0.335+0.030+9.84%
    UQ4.SI
    0.245+0.020+8.89%
    H64.SI
    0.595+0.045+8.18%
    AWK.SI
    0.168+0.012+7.69%
    5DN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.192-0.048-20.00%
    MR8.SI
    0.091-0.018-16.51%
    5PO.SI
    0.151-0.019-11.18%
    K22.SI
    0.172-0.020-10.42%
    5GB.SI
    1.265-0.130-9.32%
    T14.SI