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

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SymbolPriceChange
NZDUSD=X0.7174+0.0001

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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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.170.00+3.03%
    N21.SI
    0.965-0.030-3.02%
    G13.SI
    0.855-0.010-1.16%
    Y92.SI
    0.3750.0000.00%
    5ME.SI
    0.435-0.005-1.14%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.30+0.07+30.43%
    BLZ.SI
    0.42+0.04+10.53%
    BEH.SI
    0.31+0.03+8.77%
    42C.SI
    0.405+0.015+3.85%
    BDF.SI
    0.186+0.011+6.29%
    F86.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.149-0.011-6.87%
    M11.SI
    0.595-0.025-4.03%
    BEV.SI
    0.735-0.025-3.29%
    BCX.SI
    0.19-0.01-3.06%
    NR7.SI
    0.965-0.030-3.02%
    G13.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4244+0.0005+0.04%
    USDSGD=X
    1.5108-0.0001-0.01%
    EURSGD=X
    1.7934+0.0037+0.21%
    GBPSGD=X
    80.2850+0.162+0.20%
    SGDJPY=X
    5.4448+0.0021+0.04%
    SGDHKD=X
    3.1025-0.003-0.10%
    SGDMYR=X
    9,357.6348+23.7832+0.25%
    SGDIDR=X
    4.8418+0.0121+0.25%
    SGDCNY=X
    1.0624+0.0013+0.12%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,166.40-3.40-0.29%
    GCZ16.CMX
    17.01-0.01-0.09%
    SIZ16.CMX
    82.57-0.01-0.01%
    ^XAU
    2.64+0.02+0.78%
    HGZ16.CMX
    50.90+0.06+0.12%
    CLF17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.82+0.02
    ^FVX
    2.39+0.04
    ^TNX
    3.09+0.06
    ^TYX