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February 9, 2017 | New Zealand Dollar Wave Analysis

Jack has over 20 years experience in the currency, equity, and futures arena. He is an investment advisor who has held key positions in brokerage, money management, trading, and research. Jack is founder and president of Black Swan Capital LLC. He was also founder of Ross International Asset Management (specializing in global stock, bond, and currency asset management for retail clients) and General Manager of Plexus Trading (specializing in currency futures and commodities trading).

We shared the following Elliott Wave analysis with our subscribers yesterday morning…we are looking for a sharp push lower…the Reserve Bank of New Zealand said it is hoping for the same in its monetary policy statement today, leaving rates unchanged.

Primary Count [Daily & 240-min View]

NZD/USD Daily [Last 0.7296]

Date/Time: 7-Feb-17/7:45 a.m. ET

Looking for a trend move lower in Wave (a) of E of (A) of larger 5th Wave down…a mouthful indeed.  Daily oscillators are turning down after what looks as a spike high (0.7374) and test of the high of Wave B (0.7402).  As with Aussie, the New Zealand dollar likes to put in double-tops.  First daily swing support comes in at 0.7237.

NZD/USD 240-min: Agreed.  It is a bit of a choppy and convoluted pattern; but seems to fit to describe the (A)-(B)-(C) rally from the 0.6859 to 0.7374 to make up larger Wave [D].  Next key swing support is 0.7296…looking for a push lower, then possibly another test of the 0.7374 high in minor Wave [ii].  If this expectations plays out, and the pack is acting “right,” it could give us an opportunity to add to the short side.

Black Swan Capital

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February 9th, 2017

Posted In: Black Swan Currency Currents

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