News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
NZDUSD Shorts Favored Into 8190

NZDUSD Shorts Favored Into 8190

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Shorts Favored Into 8190

Prepared by Jamie Saettele, CMT

The current NZDUSD pattern may offer the most information regarding the sell-off in ‘risk’ and how far it is likely to extend, at least over the next week or so. Sideways trade since 3/15 composes a triangle. Triangles are valuable tidbits of information in that their presence typically foreshadows a move in the same direction of the move that preceded the triangle (in this case down) BEFORE a reversal. Thus, look lower towards 7980 (former resistance) and 7880 (former resistance). 8190 is resistance.

Bottom Line (next 5 days) – lower

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.