Intraday Elliottwave Analysis: NZDUSD, no buy signal yet

NZDUSD closed below short term control point at 0.6763.

According to Algo Trader System, the medium term trend still point down.

Price also closed below lower bands on H4 timeframe.

We could not rule out further downtrend toward 0.6659.

For now will use H1 bands look for some low risk entries.

If today close above 0.6765 will be the first sign of recovery.

Daily support levels: 0.6765 0.6781 0.6798

Dialy resistance levels: 0.6739 0.6726 0.6703

Intraday Trade Idea: (Spot 0.6755)

Sell Latentinterest Order:  0.6775

Buy Latentinterest Order:  0.6703

Click on the image to enlarge

nzdusd 1

nzdusd 2

nzdusd 3

We provide Daily FX Report, Trade Copy, Email Alert and MT4 EA Rental.

Views are my own, not trading recommendations.