eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Inches above April-August Line on Narrow Range

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-NZDUSD remains below its August high, failing to confirm the AUDUSD push above its August high.

-The larger trend is probably down as per the 3 wave advance from the June low.

-Price is slightly above the line that extends off of the April and August highs as well as the 8/19 reversal day close.

Trading Strategy: Recent comment was “Watching AUDUSD to exceed its August high while NZDUSD fails to exceed its August high to trigger the next big sell signal.” Divergence is in place between the 2 rates as long as NZDUSD is below the August high. I am bearish against that level.

LEVELS: .7927 .7960 .8036 | .8111 .8162 .8212