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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.8622+0.0001

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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
    1.2560+0.0005+0.04%
    USDSGD=X
    1.7363+0.0015+0.09%
    EURSGD=X
    2.1080+0.0014+0.07%
    GBPSGD=X
    81.5151-0.1588-0.19%
    SGDJPY=X
    6.1733-0.0024-0.04%
    SGDHKD=X
    2.5983-0.0028-0.11%
    SGDMYR=X
    9,259.3701-40.3145-0.43%
    SGDIDR=X
    4.9700+0.0013+0.03%
    SGDCNY=X
    1.1668+0.0009+0.08%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,286.30+1.70+0.13%
    GCM14.CMX
    19.45+0.02+0.09%
    SIK14.CMX
    92.88+1.82+2.00%
    ^XAU
    3.07+0.01+0.25%
    HGK14.CMX
    101.67+0.23+0.23%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.71-0.03
    ^FVX
    2.69-0.04
    ^TNX
    3.47-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.152+0.010+7.04%
    545.SI
    0.121-0.001-0.82%
    B22.SI
    0.152+0.008+5.56%
    C68.SI
    0.635+0.040+6.72%
    5WH.SI
    1.350.0000.00%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    18.50+2.700+17.09%
    K6S.SI
    0.255+0.015+6.25%
    5KI.SI
    1.305+0.090+7.41%
    5DA.SI
    0.17+0.012+7.59%
    5PF.SI
    0.15+0.010+7.14%
    5GD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.053-0.059-52.68%
    5TF.SI
    1.61-0.530-24.77%
    N02.SI
    0.123-0.008-6.11%
    S71.SI
    1.32-0.050-3.65%
    S35.SI
    0.17-0.001-0.58%
    588.SI