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

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SymbolPriceChange
NZDUSD=X0.6894-0.0027

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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
    1.3544+0.0019+0.14%
    USDSGD=X
    1.5553+0.00010.00%
    EURSGD=X
    1.9683+0.0024+0.12%
    GBPSGD=X
    79.0949-0.0703-0.09%
    SGDJPY=X
    5.7300-0.0093-0.16%
    SGDHKD=X
    2.9451-0.0027-0.09%
    SGDMYR=X
    9,779.3467-29.9033-0.30%
    SGDIDR=X
    4.7971-0.0027-0.06%
    SGDCNY=X
    1.0157+0.0034+0.33%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,282.70-9.10-0.70%
    GCM16.CMX
    17.34-0.15-0.88%
    SIN16.CMX
    87.23-3.50-3.86%
    ^XAU
    2.220.00-0.07%
    HGN16.CMX
    43.76+0.11+0.25%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.26-0.06
    ^FVX
    1.80-0.07
    ^TNX
    2.66-0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.425-0.005-1.16%
    N21.SI
    0.79-0.01-1.86%
    G13.SI
    3.78-0.05-1.31%
    Z74.SI
    0.915-0.020-2.14%
    BS6.SI
    1.865-0.040-2.10%
    MC0.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.48+0.08+20.00%
    BFK.SI
    0.28+0.03+9.80%
    BHO.SI
    0.50+0.04+8.70%
    BQP.SI
    0.39+0.03+8.33%
    BLR.SI
    0.153+0.008+5.52%
    41B.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.088-0.082-48.24%
    P74.SI
    0.13-0.02-14.47%
    5MQ.SI
    0.136-0.015-9.93%
    B69.SI
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    EB5.SI
    0.50-0.02-4.76%
    5JS.SI