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

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SymbolPriceChange
NZDUSD=X0.7115+0.0039

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
    1.3485-0.0045-0.33%
    USDSGD=X
    1.4947-0.004-0.27%
    EURSGD=X
    1.7784-0.0022-0.12%
    GBPSGD=X
    76.8430-0.916-1.18%
    SGDJPY=X
    5.7499+0.0206+0.36%
    SGDHKD=X
    3.0077+0.0171+0.57%
    SGDMYR=X
    9,711.0283+29.9531+0.31%
    SGDIDR=X
    4.9322+0.0142+0.29%
    SGDCNY=X
    1.0162+0.0009+0.09%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,348.60+7.40+0.55%
    GCZ16.CMX
    20.33+0.14+0.68%
    SIU16.CMX
    107.74+0.15+0.14%
    ^XAU
    2.210.00-0.05%
    HGU16.CMX
    41.06-0.08-0.19%
    CLU16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.09-0.01
    ^FVX
    1.510.00
    ^TNX
    2.230.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.162-0.004-2.41%
    N21.SI
    0.355-0.005-1.39%
    E5H.SI
    0.795+0.010+1.27%
    G13.SI
    0.30-0.01-4.76%
    5ME.SI
    4.25-0.04-0.93%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.58+0.06+11.54%
    BDR.SI
    0.162+0.013+8.72%
    5OT.SI
    0.20-0.05-21.57%
    AZT.SI
    0.154+0.011+7.69%
    UV1.SI
    0.30+0.02+7.14%
    AWK.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.097-0.017-14.91%
    NO4.SI
    0.19-0.03-13.64%
    B7K.SI
    0.43-0.05-10.42%
    M05.SI
    0.13-0.01-9.09%
    BRS.SI
    0.18-0.01-7.69%
    P36.SI