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
Oil - US Crude
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
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX 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:
  • Take a closer look visually at the most influential global importers and exporters here:
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
GBP/NZD Pending Breakout

GBP/NZD Pending Breakout

Walker England, Forex Trading Instructor

Market Condition: GBP/NZD Daily Breakout

Target 1: 4x ATR 2.1912

Target 2: 8x ATR 2.2318

Invalidation: New Lower Low

GBP/NZD Daily Chart

GBP/NZD Pending Breakout

(Created using Marketscope 2.0 Charts)

What is the trader’s number one mistake? Click HERE to find out!

The GBP/NZD is currently trading higher, after breakout above a descending trendline. As prices continue to trade higher, traders may look to join the new trend on the creation of a new higher high. Entry orders may be set above the March 2016 high at 2.1506. If a new buy order is triggered, traders may use Daily ATR to manage risk and extrapolate potential profit targets. As of today, Daily ATR reads at 203 pips. This means initial 4X ATR profit targets may be found near 2.1912. Alternatively, a 1X ATR stop order may be used to manage risk at 2.1303.

In the event that prices fail to break higher, traders may delete any pending orders to buy the market. In this scenario, traders may consider the standing May 2016 high at 2.1486 as a lower swing high. This would potentially open the GBP/NZD to continue its downtrend, leaving traders to look for a new yearly low under 2.0358.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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