FXCM Expo Videos
Innovative Techniques with Traditional Technical Indicators
Trading with the Elliott Wave Principle
Seeing the Forest from the Trees: An Analysis of Global Markets
Afternoon Technicals (all charts)
My early week focus is on the NZDUSD and NZDJPY. The NZDUSD has dipped below last week’s low and now retraced the entire 9/13 (Fed) rally advance. Still, the momentum profile and presence of support down to 8140 (and especially 8165) warrants longs into that level. Price has already responded to the 8/23 high (8186) which is defended by the 100% extension of the decline from the top (2 equal legs). As such, it is possible that a low is in place. Exceeding 8250 would suggest that the next bull leg is underway. The NZDJPY has entered the 9/12-9/13 congestion zone and strong support is expected slightly lower near 6360 (9/13 low and 100% extension).
NZDUSD – 60 Minute Bars
Prepared by Jamie Saettele, CMT
NZDJPY – 60 Minute Bars
Prepared by Jamie Saettele, CMT
To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele
To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com
Jamie is the author of Sentiment in the Forex Market.
Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.
