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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.7717+0.0078

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
    1.3176-0.0097-0.73%
    USDSGD=X
    1.4449+0.0002+0.02%
    EURSGD=X
    2.0187-0.0026-0.13%
    GBPSGD=X
    90.1992+0.4719+0.53%
    SGDJPY=X
    5.8829+0.0436+0.75%
    SGDHKD=X
    2.6839+0.0133+0.50%
    SGDMYR=X
    9,821.6338+64.9678+0.67%
    SGDIDR=X
    4.7060+0.0202+0.43%
    SGDCNY=X
    1.0524+0.0104+0.99%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,212.20+9.00+0.75%
    GCM15.CMX
    16.59+0.20+1.20%
    SIK15.CMX
    73.35+1.67+2.34%
    ^XAU
    2.780.00+0.02%
    HGN15.CMX
    56.98-0.01-0.02%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.36+0.02
    ^FVX
    1.94+0.02
    ^TNX
    2.64+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.2950.0000.00%
    5WA.SI
    0.865+0.015+1.76%
    N21.SI
    0.42-0.01-1.18%
    E5H.SI
    0.235+0.005+2.17%
    5GB.SI
    0.745-0.020-2.61%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.159+0.046+40.71%
    5IF.SI
    0.28+0.06+27.27%
    5OC.SI
    0.136+0.026+23.64%
    5UA.SI
    0.23+0.02+9.52%
    M11.SI
    0.24+0.02+9.09%
    5CF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.188-0.052-21.67%
    5OF.SI
    0.089-0.016-15.24%
    S13.SI
    1.40-0.13-8.50%
    T14.SI
    0.325-0.030-8.45%
    T43.SI
    0.435-0.040-8.42%
    CH8.SI