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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
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
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • SEC urges caution on funds with exposure to Bitcoin futures, calls Bitcoin a "highly speculative investment" - BBG
  • SEC warns of volatility, lack of regulation in Bitcoin market - BBG #BTC #Bitcoin
  • CDC: Johnson & Johnson vaccine advantages still outweigh the rare risks $JNJ $USD
  • China's Sinovac shot found to be highly effective in real world study - BBG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.18% 🇬🇧GBP: 0.17% 🇪🇺EUR: 0.16% 🇳🇿NZD: 0.04% 🇨🇦CAD: 0.02% 🇨🇭CHF: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/pG4kJmRk6m
  • AUD/USD slightly higher on Tuesday despite significant chop $AUDUSD https://t.co/yYdbmSO1rs
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.17% Gold: 0.08% Oil - US Crude: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0ZC9QCz4K1
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.36%, while traders in GBP/JPY are at opposite extremes with 68.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/gPepAHfIch
  • ZAR pounces on favorable global factors. Local manufacturing production (MAR) at 3.4%. Get your $USDZAR market update from @WVenketas here:https://t.co/2hzqhPFKc2 https://t.co/IcNpRYCJul
  • $DXY slightly lower on the day as a chaotic Wall Street session comes to a close $DXY $USD https://t.co/cWEnWtCEX4
EUR/NZD Pending Breakout

EUR/NZD Pending Breakout

Walker England, Forex Trading Instructor

Market Condition: EUR/NZD Pending Breakout

Bullish Target: ______ 1.5742

Bearish Target:______1.4908

EUR/NZD, Daily Chart with Range

EUR/NZD Pending Breakout

(Created Using IG Charts)

The EUR/NZD is trading in a 278 pip range as seen in the daily chart above. Resistance for the range is found at the March 27th high at a price of 1.5464. Alternatively support is found at the March 31st low of 1.5186. Traders may plan for a breakout in the EUR/NZD by setting entry orders to buy the market above resistance, and orders to sell the market below support. This way traders will be prepared for a breakout in either direction when the consolidating range concludes.

Upon a breakout, traders may consider using a 1X extension of the 278 pip range to find both bullish and bearish profit targets. This places initial bullish targets at 1.5742, and bearish targets at 1.4908. Traders may also consider managing risk at the center of the identified range. Using this methodology, breakout traders may create a 1:2 risk/reward ratio.

--- Written by Walker, Analyst for DailyFX.com

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

See Walker’s most recent articles at hisBio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES