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

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SymbolPriceChange
NZDUSD=X0.6643+0.0016

Daily Bars

eliottWaves_nzd-usd_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
    1.4038-0.0049-0.35%
    USDSGD=X
    1.5650-0.007-0.45%
    EURSGD=X
    2.0394-0.0032-0.16%
    GBPSGD=X
    83.5091+0.4999+0.60%
    SGDJPY=X
    5.5473+0.0207+0.38%
    SGDHKD=X
    2.9736+0.0199+0.68%
    SGDMYR=X
    9,712.2646+47.3242+0.49%
    SGDIDR=X
    4.6817+0.0135+0.29%
    SGDCNY=X
    0.9985+0.0011+0.11%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,166.50+8.80+0.76%
    GCJ16.CMX
    14.95+0.17+1.16%
    SIH16.CMX
    55.30+2.68+5.09%
    ^XAU
    2.09-0.01-0.55%
    HGH16.CMX
    31.13+0.24+0.78%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.250.00
    ^FVX
    1.85-0.02
    ^TNX
    2.68-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.33+0.02+4.76%
    N21.SI
    3.70+0.22+6.32%
    Z74.SI
    1.68+0.05+3.07%
    MC0.SI
    0.385+0.010+2.67%
    E5H.SI
    0.705+0.025+3.68%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.405+0.065+19.12%
    T4B.SI
    0.475+0.075+18.75%
    Y06.SI
    0.23+0.03+15.00%
    S9B.SI
    0.40+0.05+14.29%
    BJE.SI
    0.144+0.014+10.77%
    AWS.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.34-0.05-12.82%
    MN5.SI
    0.118-0.012-9.23%
    AWO.SI
    0.205-0.020-8.89%
    AYL.SI
    0.505-0.045-8.18%
    A05.SI
    0.193-0.017-8.10%
    S71.SI