NZD/USD Outside Day Reversal at 3 Year Trendline

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eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Outside Day Reversal at 3 Year Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The NZDUSD made a huge outside day reversal today. The range of the bar is consistent with emotions found near market turns. The low occurred right at the trendline that extends off of the 2010 and 2012 lows and just below the September 2012 low. I’m inclined to look higher.

FOREXTrading Strategy: Flat

LEVELS: .7807 .7868 .7902 .8103 .8161 .8212

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