NZDUSD 8290 Now at Risk
240 Minute Bars
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.” Exceeding 8287 would trigger an alternate count in which the rally from the March low composes a 3 wave advance (triangle wave b).
Bottom Line (next 5 days) – lower
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