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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.6694+0.0002

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
    1.3486-0.0032-0.24%
    USDSGD=X
    1.4917+0.0075+0.50%
    EURSGD=X
    2.1054+0.0036+0.17%
    GBPSGD=X
    90.7524+0.506+0.56%
    SGDJPY=X
    5.7488+0.0138+0.24%
    SGDHKD=X
    2.8350+0.0326+1.16%
    SGDMYR=X
    9,904.6064+15.5635+0.16%
    SGDIDR=X
    4.6023+0.011+0.24%
    SGDCNY=X
    1.0123+0.0015+0.15%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,173.10+8.50+0.73%
    GCV15.CMX
    15.81+0.20+1.26%
    SIZ15.CMX
    63.97+1.33+2.12%
    ^XAU
    2.53-0.10-3.97%
    HGU15.CMX
    53.27-3.66-6.43%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.56-0.09
    ^FVX
    2.29-0.10
    ^TNX
    3.09-0.10
    ^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