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All USD pairs showing signs of reversal - Here’s the NZD/USD

Posted on August 11, 2009 at 10:24 in Uncategorized by Pierre Charlebois

This pair has carved out a very nice ending diagonal. I will admit, I am not quite sure if the pattern has terminated or if one more blow-off top is to come. This is why I have offered two Elliott wave counts.

This pair should be observed for either a new or double top with a strong reversal, or for continued breakdown of support areas. Below .65 and then below .62 should result in much lower printings.

Tags: Elliott Wave, forex, NZD/USD, USD

3 Responses to “All USD pairs showing signs of reversal - Here’s the NZD/USD”

on 11 Aug 2009 at 8:31 pm1Sam

Perre, would you please give a quick look at the reverse points for the EUR/USD and GBP/USD?

Thanks,
on 16 Aug 2009 at 10:17 am2Pham

Hi Pierre Charlebois,

Do you think the pair will need an correction before continuing set a new high. I did not see any correction yet.
on 16 Aug 2009 at 5:51 pm3Pierre Charlebois

Hi Pham.

I’m a bit confused by your post here.

What I was commenting on the 11th on the AUD/USD is that there would likely be a final thrust to create a blow off and final top. This may have happened Friday.

So… in the short-term some re-tracement UP may take place BUT……..

I would be surprised by any new top and that the overall trend may now be heading down.

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