News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Goldman Sachs sees the Turkish Central Bank cutting rates by 100bps over next three central bank meetings
  • Cable has undergone a nice rally as of late, with it having risen over four figures off the September low.Get your $GBPUSD market update from @PaulRobinsonFX here:
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.35% 🇨🇭CHF: 0.10% 🇪🇺EUR: -0.04% 🇬🇧GBP: -0.04% 🇦🇺AUD: -0.18% 🇳🇿NZD: -0.29% View the performance of all markets via
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.01% Germany 30: -0.19% Wall Street: -0.21% France 40: -0.23% FTSE 100: -0.32% View the performance of all markets via
  • Yen Pullback Begins: EUR/JPY, GBP/JPY, AUD/JPY, CAD/JPY
  • The oil price breakout has extended into the first level of lateral resistance- risk for some ‘back and fill’ here but the outlook remains constructive. Get your market update from @MBForex here:
  • Tesla opened lower as afterhours trade yesterday suggested we would, but after the gap down, we've had a strong rally this morning. I wonder if the Robinhood-type crowd trades before/after hours or if that is the traditional segment
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -0.02% Silver: -0.40% Oil - US Crude: -1.21% View the performance of all markets via
  • The Turkish Central Bank cut its weekly repo rate to 16%, marking a 200bps cut vs expectations for a 50-100bps reduction. Get your market update from @JMcQueenFX here:
  • 🇺🇸 CB Leading Index MoM (SEP) Actual: 0.2% Expected: 0.4% Previous: 0.8%
Stealth Uptrend in EUR/NZD?

Stealth Uptrend in EUR/NZD?

Kristian Kerr, Sr. Currency Strategist

EUR/NZD has been stuck in a broadening range for the better part of five months. A succession of higher swing lows and higher swing highs during this time suggests a stealth uptrend could be materializing in the cross rate. Monday’s reversal from just below the 50% retracement of August to January advance and just above an upward sloping trend line connecting the higher lows at 1.5590 lends further support to this view and opens the way for a renewed move higher towards the top end of the broadening range.

Some other technical evidence that points to a possible move higher here is the medium-term Rate-of-Change (ROC). Over the past few months while the cross has been in this broadening range this indicator has done a good job of signaling a turn whenever it has neared current levels. Our time cycle methodology is also positive and favors strength over the next few days.

EUR/NZD Daily Chart: February 28, 2013

Range_eurnzd_body_Picture_1.png,  Stealth Uptrend in EUR/NZD?

Charts Created using Marketscope – Prepared by Kristian Kerr

The New Zealand economic docket is pretty clean until next week so news from there is unlikely to impact trading in the cross too much. Europe is a different story, however, as a slew of economic data ranging from German retail sales to Euro-zone CPI is set to be released on Friday. While these releases certainly could impact the cross, the key event to be on the lookout for remains the Italian political situation and whether any clarity can be achieved in terms of forming a government.


Resistance: 1.5825 (38% retracement of Aug-Jan advance), 1.6015 (Last week’s high)

Support: 1.5720 (Minor retracement), 1.5590 (Monday’s low)


Entry: 1.5720

Stop: .1.5629(-91 pips)

Target 1: 1.5925

Target 2: 1.6015

Timeframe: 2 days

--- Written by Kristian Kerr, Senior Currency Strategist for

To contact Kristian, e-mail Follow me on Twitter at@KKerrFX.

Are you looking for other ways to pinpoint support and resistance levels? Take our free tutorial on using Fibonacci retracements.

New to forex? Sign up for our DailyFX Forex Education Series


DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.