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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.6757+0.002

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3794-0.002-0.15%
    USDSGD=X
    1.5385-0.0005-0.03%
    EURSGD=X
    2.0156-0.0046-0.23%
    GBPSGD=X
    79.6827+0.0751+0.09%
    SGDJPY=X
    5.6311+0.0074+0.13%
    SGDHKD=X
    2.9704-0.0023-0.08%
    SGDMYR=X
    9,878.2354+2.3828+0.02%
    SGDIDR=X
    4.7558+0.0105+0.22%
    SGDCNY=X
    0.9947+0.002+0.20%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,227.80-1.40-0.11%
    GCM16.CMX
    16.32+0.07+0.41%
    SIN16.CMX
    80.15-4.94-5.81%
    ^XAU
    2.08+0.02+0.85%
    HGN16.CMX
    49.19+0.57+1.17%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.40+0.02
    ^FVX
    1.86+0.02
    ^TNX
    2.64+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.114+0.006+5.56%
    40E.SI
    1.805+0.035+1.98%
    MC0.SI
    0.725+0.015+2.11%
    G13.SI
    3.84+0.03+0.79%
    Z74.SI
    0.715+0.025+3.62%
    5HJ.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.475+0.030+6.74%
    5DP.SI
    0.185+0.011+6.32%
    P36.SI
    0.63+0.03+5.88%
    5TG.SI
    0.685+0.035+5.38%
    T4B.SI
    0.715+0.025+3.62%
    5HJ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.86-0.18-17.31%
    AWM.SI
    0.25-0.04-15.25%
    I06.SI
    0.29-0.03-9.38%
    BLU.SI
    0.80-0.07-8.05%
    BCX.SI
    0.153-0.012-7.27%
    5WD.SI