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NZD/USD Diagonal Line Crosses 8310 on Thursday

NZD/USD Diagonal Line Crosses 8310 on Thursday

2013-02-20 22:26:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Diagonal Line Crosses 8310 on Thursday

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: The NZDUSD has followed through on last Friday’s reversal, declining towards the bottom of the range low today. The range has yet to be broken and the diagonal support line (ending diagonal appears to be complete but a drop below the diagonal support line will confirm) comes in at 8307 on Thursday.

FOREXTrading Strategy: Risk on shorts is moved down from 8540 to 8490. New sales are favored into 8403/33.

LEVELS: 8240 8280 8310 8372 8403 8450

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