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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.6770+0.0033

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
    1.3780-0.0034-0.25%
    USDSGD=X
    1.5380-0.0009-0.06%
    EURSGD=X
    2.0283+0.0081+0.40%
    GBPSGD=X
    79.9388+0.3312+0.42%
    SGDJPY=X
    5.6352+0.0115+0.20%
    SGDHKD=X
    2.9721-0.0006-0.02%
    SGDMYR=X
    9,881.0947+5.2422+0.05%
    SGDIDR=X
    4.7555+0.0102+0.21%
    SGDCNY=X
    0.9921-0.0006-0.06%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,223.90-5.30-0.43%
    GCM16.CMX
    16.33+0.08+0.50%
    SIN16.CMX
    82.45+2.29+2.86%
    ^XAU
    2.10+0.04+1.74%
    HGN16.CMX
    49.32+0.70+1.44%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.400.00
    ^FVX
    1.860.00
    ^TNX
    2.66+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.3050.0000.00%
    N21.SI
    0.114+0.006+5.56%
    40E.SI
    0.715+0.005+0.70%
    G13.SI
    1.785+0.015+0.85%
    MC0.SI
    3.82+0.01+0.26%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.40+0.04+11.11%
    567.SI
    0.65+0.05+9.24%
    5TG.SI
    0.475+0.040+9.20%
    A26.SI
    0.39+0.03+8.33%
    42E.SI
    0.123+0.009+7.89%
    510.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.86-0.18-17.31%
    AWM.SI
    0.139-0.026-15.76%
    5WD.SI
    0.25-0.04-15.25%
    I06.SI
    0.29-0.03-9.38%
    BLU.SI
    0.80-0.07-8.05%
    BCX.SI