11 Sept 07
New Zealand Dollar vs US Dollar
Currency Pair = NZD/USD.
ElliottwaveSignal:
Short-Medium term trade.
TimeFrame = 4 Hours.
Signal = Sell at market Price.
Risk Reward Ratio = 5.X (High-Medium risk)
Medium term target for Minute Wave (iii) at 0.6700 area as our first target profit.
Exit at 0.7000 area.
Our Elliott wave analysis indicates that NZD/USD currency market are now building momentum for medium impulsive wave (iii) down.
How ever we could see more silence market until early tomorrow morning when the Reserve Bank of New Zealand (RBNZ) announce their short term interest rate.Market forecast that RBNZ will keep their interest rate at 8.25%.
Then only we could see some major movement.Our first target is 0.6700 area ,this is where NZD/USD testing previous support.If it pass previous low at 0.6640 then it could go further down to next support at 0.6400.
Below are illustrated chart of our latest elliott wave analysis on NZD/USD :-
Australian Dollar vs US Dollar
Currency Pair = AUD/USD.
ElliottwaveSignal:
Short-Medium term trade.
TimeFrame = 4Hrs.
Elliott wave Signal = Sell market price around 0.8275 area.
Risk Reward Ratio = to be advice
Elliott Medium term target for first wave (iii) down = 0.7680-0.7450
AUD/USD Elliott Wave Analysis :-
We predicted that current market price is near end of wave (ii).How ever this wave (ii) can move up till 0.8400 area.
From this wave (ii) then we could trade for next wave and that is wave (iii) down.This Elliott wave (iii) could be our major wave how ever it have to pass previous low at 0.76780 before its continue to our next target,minimum at 0.7450.
Possible extended impulsive wave then will occur.That is for our next signal.
Below are our illustrated AUD/USD Elliott wave analysis.
From: Elliot wave signal prognosis
