DislikedHello Kalyan, Looking good, but possible V shape recovery. Better 0,7755 (61,8 fib), or 0779 (gap) I think.Ignored
- #20,468
- Jan 6, 2015 3:57am Jan 6, 2015 3:57am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
NZDUSD point of confluence zone comes at 7745-7765 and if 7800 stands strong we should see a drop to 7670-40. Inner trend line , H4, 61,8 fib and historical sellers in the region make POC. After a big drop comes a big correction so I assume that NZDUSD is still in technical downtrend.
Still a dollarbull , but Dollarindex is nearing some important levels.
Monthly DX chart ,
The Monthly levels of 92,40 and 94.40 coincide with the weekly Innertrendline or the pitchfork and the 94.30 level also being the 1.27 Fib extension from the march 2009 high to the may 2011 low ( not shown on the chart)
Monthly DX chart ,
The Monthly levels of 92,40 and 94.40 coincide with the weekly Innertrendline or the pitchfork and the 94.30 level also being the 1.27 Fib extension from the march 2009 high to the may 2011 low ( not shown on the chart)
- #20,473
- Jan 7, 2015 6:27am Jan 7, 2015 6:27am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Today FOMC meeting minutes may give some counter trend opportunities on EURUSD. My opinion is that possible QE measures and possible Grexit are strongly priced in so less then expected hawkish statement on FOMC will give some relief to EU currency pair. Also we must not forget that strong depreciation of EUR currency pair is actually good for exporters (!) so what can happen is that the decision on QE will be postponed. Anyway 1800-1810 zone is a support also on equidistant channel and L4 camarilla so it does give potential chance for counter trend setups to 1.2000. As you can see on the chart its pretty much aligned with the price channel/retail gap and 1.2000 H5.
In that case 1.1770 is a level which must hold.
In that case 1.1770 is a level which must hold.
- #20,475
- Jan 7, 2015 7:40am Jan 7, 2015 7:40am
- Joined Jun 2010 | Status: zero | 20,603 Posts
{quote} Hey Markus, First crucial level for short term correction is 2000 then we have 2060. After 2060 2235 should be reached. 2235 is very important as that could be the trigger for a deeper correction. It is possbile but that would much depend on political circumstances in EU. The thing which i also have in mind is that contrary to majority- ECB maybe would NOT announce QE measures because low EUR actually fits EU exporters, so they might postpone it.
thank you for your considerations
- #20,476
- Jan 7, 2015 8:17am Jan 7, 2015 8:17am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
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