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

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SymbolPriceChange
NZDUSD=X0.6586-0.0068

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
    1.3757+0.0066+0.48%
    USDSGD=X
    1.5013-0.0016-0.11%
    EURSGD=X
    2.1430+0.0072+0.34%
    GBPSGD=X
    90.4011-0.169-0.19%
    SGDJPY=X
    5.6356-0.0264-0.47%
    SGDHKD=X
    2.7828-0.003-0.11%
    SGDMYR=X
    9,828.5957-24.9551-0.25%
    SGDIDR=X
    4.5172-0.0175-0.39%
    SGDCNY=X
    1.0011+0.003+0.30%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,091.50-1.40-0.13%
    GCV15.CMX
    14.790.00-0.01%
    SIZ15.CMX
    47.02-1.35-2.79%
    ^XAU
    2.40-0.02-0.99%
    HGG16.CMX
    49.10+0.31+0.64%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.63+0.02
    ^FVX
    2.27-0.01
    ^TNX
    2.96-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.52-0.07-11.86%
    N21.SI
    0.320.00-1.54%
    E5H.SI
    0.139+0.003+2.21%
    5DN.SI
    0.310.00-1.59%
    5WA.SI
    0.915+0.035+3.98%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.199+0.049+32.67%
    5MQ.SI
    0.45+0.09+25.00%
    K1Q.SI
    0.65+0.09+16.07%
    L5I.SI
    0.295+0.035+13.46%
    PA3.SI
    0.445+0.050+12.66%
    42C.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.38-0.11-22.45%
    AZT.SI
    0.128-0.018-12.33%
    5TJ.SI
    0.52-0.07-11.86%
    N21.SI
    0.16-0.02-11.11%
    AVX.SI
    0.39-0.05-10.34%
    5I3.SI