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
Wall Street
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
More View more
Real Time News
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • All eyes on the Fed on Wednesday as investors weigh on chances of a taper announcement. Get your weekly equities forecast from @HathornSabin here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • The US Dollar caught a bid in the late part of last week to set a fresh September high. FOMC is around the corner, are bulls going to be able to push for another fresh high? Get your weekly US Dollar forecast from @JStanleyFX here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The Australian Dollar remains vulnerable to most of its major counterparts, with AUD/USD and AUD/JPY resuming losses. Did AUD/NZD bottom? AUD/CAD may consolidate. Get your weekly Australian Dollar forecast from @ddubrovskyFX here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
NZDCAD: Pending Short on Supportive Technicals

NZDCAD: Pending Short on Supportive Technicals

Nick Cawley, Strategist

NZDCAD – Pending Short at 92.55 – Recent December highs.

Stop Loss – 93.80

Target 1 (50%) – 91.10 – 50% Fibonacci retracement.

Target 2 (50%) – 89.20 – 61.8% Fibonacci retracement.

The DailyFX Q4 Forecasts are available to download.

NZDCAD – Long-Term Down Trend Remains in Place

The recent oil bear market hit the Canadian dollar hard and against the New Zealand dollar sent it back to the bottom of the NZDCAD downtrend, started from the November 9, 2016 high at 99.28. Since then the chart has been dominated by lower highs and lower lows. The chart below shows the downtrend crossovers with the various Fibonacci retracement levels of the September 2015 – November 2016 rally where price action reversed. The current spot level – 91.48 - is nearing both the upper line of the downtrend around 93.00 and the 38.2% Fibonacci retracement level at 93.03 and is likely to provide a reversal point.

In addition, the RSI indicator – at the bottom of the chart – has just eased out of overbought territory. The previous times the RSI indicator showed either overbought or oversold levels, the price reversed back into the trend channel.

NZDCAD Daily Price Chart (August 2015 – December 13, 2018)

NZDCAD: Pending Short on Supportive Technicals

IG Client Sentiment Datashow how retail traders are positioned in a wide range of financial products and how this can help you when you trade.

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on NZDCAD – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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