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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
NZD/USD Big Decline is Possible from Nearby

NZD/USD Big Decline is Possible from Nearby

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Big Decline is Possible from Nearby

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The 161.8% expansion of the 8/19-8/30 decline at .8436 has so far marked the top. The 5 wave decline from the April high suggests that the larger trend is down. A 3 wave advance may be complete from the June low.

-Price is little changed on a closing basis since 9/26. The current range is primarily .8225-.8325. Still, even a break above the range faces .8375/80 before the high. Weakness below .8190 would open up .7970/80.

Trading Strategy: Flat

LEVELS: .8192 .8211 .8260 | .8350 .8376 .8435

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

DISCLOSURES