FOREX Technical Analysis: NZD/USD Inside Day Forms after 2012 High is Recorded

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.7249-0.0017

Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, FOREX Technical Analysis: NZD/USD Inside Day Forms after 2012 High is Recorded

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: Monday’s inside day wasn’t the follow through that bulls were looking for after a 2012 high was registered Friday. Long time readers will know that I find inside days at key levels useful in trade construction. At the current juncture, weakness probably proves corrective (4th wave within rally from 11/16 low). Support is 8355/75.

FOREXTrading Strategy: “Price is probably close to at least a drop into former resistance at 8355. I’ll be looking for the drop to unfold in a corrective manner.”

LEVELS: 8309 8355 8390 8476 8572 8600

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3479-0.0031-0.23%
    USDSGD=X
    1.4744+0.0017+0.11%
    EURSGD=X
    2.0725-0.0017-0.08%
    GBPSGD=X
    91.7620+0.185+0.20%
    SGDJPY=X
    5.7519+0.0097+0.17%
    SGDHKD=X
    2.6998+0.003+0.11%
    SGDMYR=X
    9,797.4346+45.3779+0.47%
    SGDIDR=X
    4.5976+0.0082+0.18%
    SGDCNY=X
    1.0355-0.0089-0.85%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,190.30+3.80+0.32%
    GCQ15.CMX
    16.72+0.07+0.44%
    SIN15.CMX
    68.76+0.07+0.10%
    ^XAU
    2.770.00+0.16%
    HGN15.CMX
    57.62+0.11+0.19%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.53+0.01
    ^FVX
    2.130.00
    ^TNX
    2.88-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.193+0.018+10.29%
    F13.SI
    0.415-0.010-2.35%
    E5H.SI
    0.340.000.00%
    AFC.SI
    0.295+0.005+1.72%
    5WA.SI
    4.13-0.03-0.72%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.18+0.03+20.00%
    P36.SI
    0.126+0.012+10.53%
    510.SI
    0.193+0.018+10.29%
    F13.SI
    0.285+0.025+9.62%
    5SY.SI
    0.33+0.03+8.20%
    T18.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.05-20.00%
    502.SI
    0.15-0.02-11.76%
    5MQ.SI
    0.098-0.011-10.09%
    O2I.SI
    0.136-0.013-8.72%
    L10.SI
    0.315-0.035-10.00%
    AYL.SI