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
Breaking news

U.S. Equities continue to get hit, Dow Jones now down more than 1,000 points

NZD/USD Near Term Bottoming Pattern but Trendline Needs to Give

NZD/USD Near Term Bottoming Pattern but Trendline Needs to Give

Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_nzd-usd_body_Picture_7.png, NZD/USD Near Term Bottoming Pattern but Trendline Needs to Give

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-NZDUSD has traded into the trendline that extends off of the Oct and Nov highs. Price also completed a short term head and shoulders pattern (from 11/22). The target for the pattern is .8445, which is in line with the 10/23 high.

Trading Strategy: Order to go long at .8240, stop .8190, target .8440

LEVELS: .8139 .8205 .8230 | .8300 .8367 .8414

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

DISCLOSURES