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The Forex Pattern Price Time Report - NZD USD - Morning Session
By: James Hyerczyk - 25-08-2008
0votesThe Weekly Closing Price Reversal at .6823 from the week-ending August 15th was confirmed last week.
This market, however, ran into a down trending Weekly Gann Angle at .7175. A breakout over this angle could launch a strong rally. This Weekly Angle combines with a down trending Daily Angle to form a resistance cluster at .7175 to.7181.
Overnight this market is feeling downside pressure. The Weekly Up Trending Gann Angle at .7053 was violated. This indicates the market is likely going to retrace the recent rally to .7019 to .6973.
This market may find support today from higher commodity markets especially in Crude Oil and Gold.
PATTERN
Main Trend: Down
Main Trend Top: .7761 (07-15-08)
Main Trend Bottom: .6823 (08-13-08)
PRICE
.7403 .618 Retracement
.7292 50% Retracement
.7181 Gann Angle Down
.7175 Weekly Gann Angle Down****
.7094 Overnight High
.7091 New York Close
.7053 Weekly Gann Angle Up****
.7036 Overnight Low
.7019 50% Retracement
.6973 .618 Retracement
.6983 Gann Angle Up
.6888 Gann Angle Up
.6823 Main Trend Bottom (08-13-08)
TIME
None
Attached Images
Next Analysis: The Forex Pattern Price Time Report - AUD USD - Morning SessionContent Provided by:
James Hyerczyk
James A. Hyerczyk is a registered Commodity Trading Advisor with the National Futures Association.
Mr. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor.
DISCLAIMER:
Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or economic conditions that may substantially affect the price and/or liquidity of a currency. The impact of seasonal and geopolitical events is already factored into market prices. Prices in the underlying cash or physical markets do not necessarily move in tandem with futures and options prices. The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds and such may work against you as well as for you. In no event should the content of this correspondence be construed as an express or implied promise or guarantee from James A. Hyerczyk and J.A.H. Research and Trading or its subsidiaries and/or affiliates that you will profit or that losses can or will be limited in any manner whatsoever. Loss-limiting strategies such as stop loss orders may not be effective because market conditions may make it impossible to execute such orders. Likewise, strategies using combinations of positions such as "spread" or "straddle" trades may be just as risky as simple long and short positions. Past results are no indication of future performance. Information contained in this correspondence is intended for informational purposes only and was obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
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