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
  • 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:
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong 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:
  • 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:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
EURUSD Bounces from 1250 as Kiwi (NZDUSD) Crumbles From Resistance

EURUSD Bounces from 1250 as Kiwi (NZDUSD) Crumbles From Resistance

James Stanley, Senior Strategist


- Last night’s RBNZ rate decision finally saw the bank suggest a direction of the next rate move. After echoing a tone of ‘the next rate move could be up or down’ at previous rate decisions, the RBNZ last night implied that the next move might be a cut, and prices in the New Zealand Dollar dropped-quickly. In NZDUSD, an area of confluent resistance near the top of a symmetrical wedge formation held the highs, and NZDUSD prices promptly dropped below the .6820 area of Fibonacci support.

- Elsewhere in FX-land, ranges remain as the end of Q1 draws near. EURUSD continues to carry trend potential as sellers have driven deeper within the longer-term zone of support; with the low for this morning printing and holding around 1.1250. USDJPY remains in an interesting spot after last week’s flare of risk aversion, with buyers unable to push prices through the 110.75-110.86 zone.

- DailyFX Forecasts are published on a variety of currencies such as the US Dollar or the Euroand are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator.

NZDUSD: Kiwi Crumbles after RBNZ

In one of the more interesting Central Bank themes, the RBNZ has continued to say that the next rate move could be ‘up or down.’ This isn’t exactly the type of forward guidance that market participants yearn for, as not only does it not say anything about the economy, it shows nothing from the opinions of its Central Bankers, making for a muddy backdrop in which investors have to project more than they’d probably like.

In response, the New Zealand Dollar has spent the past nine months in varying forms of congestion against its US counterpart; and the symmetrical wedge looked at in this week’s FX Setups and again in yesterday’s webinar highlighted that theme.

Yesterday’s RBNZ rate decision finally saw a bit of clarity on that front as the RBNZ implied that the next rate move could be a cut. In short order, NZDUSD fell from the resistance zone being followed, and prices jumped down to the first target around .6820.

NZDUSD Daily Price Chart

nzdusd nzd/usd daily price chart

Chart prepared by James Stanley

The big question at this point is whether this move of weakness will turn into anything more, as the multi-month symmetrical wedge remains in order. Given the motive, the RBNZ taking a dovish turn towards forward-looking policy expectations, and this may be offset by continued dovishness at the Fed, making it a more difficult fundamental variable to rely upon for a break of this wedge and the establishment of a fresh trend.

EURUSD Tilts Down to 1250 as Draghi Warns of Downside Risks

Elsewhere in FX land, ranges with trend-potential continue to show as the end of Q1 nears. EURUSD pushed deeper within longer-term range support this morning after Mario Draghi reiterated the downside risks facing the European economy, similar to the ECB’s last rate decision earlier in the month. At that meeting, the ECB looked to head-off those risks by announcing another round of TLTRO’s, and this evoked a quick move of Euro-weakness as prices in EURUSD tested below a four-month old range.

But that weakness did not last: The US Dollar found resistance at yearly highs shortly after the announcement, and the Non-Farm Payrolls report the morning after brought EURUSD bulls back into the mix as the pair spent the next two weeks in some form of rally.

Until last week, that is, when EURUSD touched the bottom-side of a range resistance zone, at which point sellers pounced, and have largely been in-control ever since.

Might this be opening the door to fresh downtrends around the Q2 open? Or will the range continue to hold after more than five months of back-and-forth price action?

EURUSD Daily Price Chart

eurusd eur/usd daily price chart

Chart prepared by James Stanley

USDJPY: Moments of Truth

The year started with a significant surge of Yen-strength. But that did not last for long, and the ensuing three months saw a generally weak Japanese Yen that allowed for a smooth and consistent bullish trend to develop in USDJPY.

That began to come into question last week around the FOMC rate decision, when a quick swell of risk aversion brought on Yen-strength. USDJPY dropped through a number of support regions, with buyers finally returning upon a re-test of the 109.67-110.00 zone of support. This was the same zone used to line-up bullish strategies in early-February, eventually allowing for the pair to re-test the 112.00 handle. That support has since held and prices have bounced; but buyers have been unable to yet test through the key area on the chart that runs from 110.75-110.86. A break-through here could re-open the door for bullish strategies; but if sellers are able to hold the highs below this key area on the chart, a deeper retracement or sell-off might be in the cards.

On the bullish side of the coin, and this is a very short-term observation – buyers have shown higher-low support around prior short-term resistance, taken from the 110.25 area. This can be setting up for a showdown in that 110.75-110.86 zone at some point later today.

USDJPY Four-Hour Price Chart

usdjpy usd/jpy four hour price chart

Chart prepared by James Stanley

To read more:

Are you looking for longer-term analysis on the U.S. Dollar? Our DailyFX Forecasts for Q4 have a section for each major currency, and we also offer a plethora of resources on USD-pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD. Traders can also stay up with near-term positioning via our IG Client Sentiment Indicator.

Forex Trading Resources

DailyFX offers an abundance of tools, indicators and resources to help traders. For those looking for trading ideas, our IG Client Sentiment shows the positioning of retail traders with actual live trades and positions. Our trading guides bring our DailyFX Quarterly Forecasts and our Top Trading Opportunities; and our real-time news feed has intra-day interactions from the DailyFX team. And if you’re looking for real-time analysis, our DailyFX Webinars offer numerous sessions each week in which you can see how and why we’re looking at what we’re looking at.

If you’re looking for educational information, our New to FX guide is there to help new(er) traders while our Traits of Successful Traders research is built to help sharpen the skill set by focusing on risk and trade management.

--- Written by James Stanley, Strategist for

Contact and follow James on Twitter: @JStanleyFX

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