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
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
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
More View more
Real Time News
  • Weekly Strategy Webinar starting in 13mins! https://t.co/lxd5fZnn4H
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.35% 🇪🇺EUR: 0.26% 🇨🇦CAD: 0.24% 🇬🇧GBP: -0.19% 🇨🇭CHF: -0.21% 🇯🇵JPY: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZggGcyxXJq
  • 🇮🇳 Inflation Rate YoY (JUN) Actual: 6.09% Expected: 5.3% Previous: 5.91% https://www.dailyfx.com/economic-calendar#2020-07-13
  • Hey traders! I'm sure you've all heard about trend trading. Sharpen your knowledge here: https://t.co/jkliL5sxj7 https://t.co/0MG5XPiDF6
  • Heads Up:🇮🇳 Inflation Rate YoY (JUN) due at 12:00 GMT (15min) Expected: 5.3% Previous: 5.91% https://www.dailyfx.com/economic-calendar#2020-07-13
  • RT @DanielGMoss: #Silver surging to fresh yearly highs as the RSI bursts into overbought territory Significant change in sentiment as pri…
  • Join @MBForex at 8:30 AM ET/12:30 PM GMT for his weekly strategy #webinar Register here: https://t.co/VAnAfZU02T https://t.co/fu8UmwtSkz
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.95%, while traders in US 500 are at opposite extremes with 73.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PQBbkVhsYC
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/11:30 AM GMT for insight on major event risk in the week ahead. Register here: https://t.co/X8TIhpKxtF https://t.co/cY4d8HuulB
FX Reversals: NZDUSD Moves to Resistance

FX Reversals: NZDUSD Moves to Resistance

2014-08-21 14:06:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • NZDUSD Tests Range Resistance
  • S3 Marks Range Support at .8352
  • Price Over .8049 Signals a Market Breakout

GBPUSD 30min Chart

FX Reversals: NZDUSD Moves to Resistance

(Created using FXCM’s Marketscope 2.0 charts)

After a sharp decline of the NZDUSD going into yesterdays close, the pair has remained range bound in today’s early morning U.S. session. Price first moved to S3 range support at .8352, before reversing back towards key lines of resistance. At this time, price is still below the R3 camarilla pivot near .8390. This point is currently acting as range resistance creating a 38 pip trading range for the day. As long as price continues to hold below this value, reversal traders may look for prices to return back down to support.

Traders should be aware that a price breakout above R4 or below S4 would signal a conclusion to today’s range bound environment. A move above R4 at .8409 would suggest a reversal against the pair’s current uptrend, as the NZDUSD would be working towards a higher high. Likewise a break below S4 support at .8333, would signal a return to the pair’s current downtrend. In either scenario, traders may select to conclude any range positions while looking for orders with the markets new direction.

FX Reversals: NZDUSD Moves to Resistance

Are you unfamiliar with camarilla pivots and trading intraday market reversals? Increase your trading education with DailyFX! You can continue learning and work on your trading education HERE.

Then, to practice setting up orders using Camarilla Pivots, register for a FREE Forex demo with FXCM. This way you can develop your scalping techniques while tracking the market in real time.

Click HERE to Register Now

---Written by Walker England, Trading Instructor

To contact Walker, email instructor@dailyfx.com. Follow me on Twitter @WEnglandFX.

To be added to Walker’s e-mail distribution list, CLICK HERE and enter in your email information.

Previous Market Setups:

FX Reversals: USDCAD Morning Breakout Update

FX Reversals: USDCAD Tests Support

FX Reversals: EURGBP Breaks Final Support

FX Reversals: EURUSD Morning Reversal Update

FX Reversals: AUDUSD Trading Range Update

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

DISCLOSURES

News & Analysis at your fingertips.