Nzd.usd

[dumbass]

expanded flat currently in a c wave

multi year trendline to break and then heading for at least 60 and probably quite quickly

[arco]

Hi DB

Thanks for the EW count and summary.

That pretty much agrees with the conclusion in my post and chart #956

......................Could be a nice southern flight (for a flightless bird).

arco

[peat]

i do find it weird when the b of the abc goes above 5 tho..

[arco]

Know what you mean Peat........

In expanded flats, wave B of the 3-3-5 pattern terminates beyond the starting level of wave A, and wave C ends more substantially beyond the ending level of wave A

http://www.elliottwave.com/club/memb...es/fig1-37.gif

[Dr_Who]

Dr Who

There was an expectancy (check post #956)

What are about the fundamentals that is driving it up? IS it just short covering that is driving it up in the short term?

[arco]

Dr Who

You will need to ask a fundamentalist that question.

...........My trading is based on technical analysis

rgds -arco

[peat]

What are about the fundamentals that is driving it up? IS it just short covering that is driving it up in the short term?

re fundymental , heres a story. i still prefer the pretty pictures myself. and I think Max probably does too, but he is no doubt expected to write something for his clients to read.

the Aussie’s sharp sell-off was largely due to the fall in raw commodity prices; in contrast, New Zealand’s exports are ‘soft’ commodities (i.e.foodstuffs) and these prices have not declined nearly as much as industrial and precious metals.
Thus, the “guilt by association” sell-off in the Kiwi is now being unwound - as demonstrated by its bounce against the AUD in recent days. A further positive for the Kiwi is that the carry-trade crowd may emerge from the woodwork again soon, unable to resist borrowing Yen at 1% and investing in NZD at 8%. And, of course, these days, the forward points on long NZD/short USD are pretty attractive too.

Technically, NZD/USD is undergoing a corrective recovery back toward Resistance around the mid .7200’s

[arco]

Hi Peat

Thanks for posting that interesting note from Max........seems to mirror roughly the early stages of my chart idea from post #956.

Only time will tell.............

arco

[peat]

so i averaged in at 7120 during the pull back last evening. 1/4 closed at +90 stop raised to 7170 for the remainder.

[arco]

.

Nice one Peat. Good when a plan comes together.

I was also long Euro.......TP got hit overnight.

rgds-arco