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.

Free Trading Guides
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bullish
More View more
Real Time News
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.34% 🇯🇵JPY: 0.26% 🇳🇿NZD: 0.12% 🇪🇺EUR: -0.02% 🇬🇧GBP: -0.11% 🇨🇦CAD: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6oj4d4EDnb
  • Heads Up:🇺🇸 USD Continuing Claims (JAN 11) due at 13:30 GMT (15min), Actual: N/A Expected: 1750k Previous: 1767k https://www.dailyfx.com/economic-calendar#2020-01-23
  • Heads Up:🇺🇸 USD Initial Jobless Claims (JAN 18) due at 13:30 GMT (15min), Actual: N/A Expected: 215k Previous: 204k https://www.dailyfx.com/economic-calendar#2020-01-23
  • Heads Up:🇪🇺 EUR ECB President Lagarde Holds Press Conference in Frankfurt due at 13:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-01-23
  • US Commerce Secretary Ross states that they are working on the assumption that the US and EU can reach a trade deal, however, it is more complicated than China $EUR
  • Tune in to @PeterHanksFX 's #webinar at 9:00 AM ET/2:00 PM GMT to learn how to identify trends with trader #sentiment. Register here: https://t.co/MqVMi2INbJ https://t.co/SwzvRXH693
  • $EURUSD still grinding at support with #ECB presser up in ~33 minutes. Not sure what to expect after Lagarde's 'not a dove or a hawk but an owl' comment from last month. https://t.co/w4dz4xOYV6
  • ECB announces strategic review of monetary policy #ecb #euro
  • LIVE NOW! Analyst @JMcQueenFX covers the #ECB rate decision and discusses the outlook for the Euro $EURUSD #Euro - https://www.dailyfx.com/webinars/491055323?CHID=9&QPID=917720
  • ECB - Bond purchases will continue for as long as necessary. #ecb #euro
Kiwi Traps Shorts

Kiwi Traps Shorts

2017-04-19 14:16:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

I'm bullish EUR/NZD whilst above Monday's low and looking for major upside (could break a multiyear trendline) but would note just above 1.5800 as a spot to take some off if it works.

Long term pattern - the rally from the 2015 low in impulsive (5 waves) and the decline from the 2015 high to the 2017 low is corrective (3 waves...classical chartist could call it a wedge too). The implication is that price will exceed the 2015 high while remaining above the 2015 low.

Short term pattern - the rally from the February low is impulsive (5 waves) and the decline from the March high is corrective (3 waves).

Recent action / Market Levels - Monday's low was at the top side of former corrective channel resistance (blue line on this chart). I call this the sling shot. It's my favorite setup. The recent low is also in line with lows from 2016 (July and September). Finally, Monday's low is 3 pips below the year open price...now that's respect. The drop on Friday completed a short term head and shoulders top. It did not last. Some of the best setups occur from failed patterns. That's a possibility here.

Looking for ideas and forecasts? Visit the DailyFX guides and forecasts page. Also, check out the webinar schedule.

Are you positioned with the crowd? Check the IG Client Sentiment page to find out.

EURNZD Daily

Please add a description for the image.

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

DISCLOSURES

News & Analysis at your fingertips.