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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
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
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
More View more
Real Time News
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/d9EmTOHyTv
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/xqbUxwWgTZ
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/Gi8LHCT5sB
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/FFmRYyx4ou
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/r7aJb4qpqc
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/fIGDaDW21V
  • ...even more incredible is net speculative futures positioning in $EURUSD, rounding off from a record net long position...and it hasn't even cleared 1.20... https://t.co/SfyYTMTT1x
  • Net speculative futures positioning in the Dollar (here overlaid with the $DXY) has pushed to extreme levels commensurate to the levels in Oct 2017 and April 2018 https://t.co/JqHGgVUCqc
  • The $SPX closed below the 50-day moving average Friday. The first time it has done so in 103 trading days. The 'technical' end of an exceptional run: https://t.co/HUn5Q6JmlK
  • Despite recent weakness in the #SP500, the growth-linked New Zealand Dollar has been gaining momentum ahead of the #RBNZ next week Could this trend continue, or will $NZDUSD capitulate to the mercy of risk trends? Check out my fundamental outlook - https://www.dailyfx.com/forex/fundamental/forecast/weekly/nzd/2020/09/19/New-Zealand-Dollar-Outlook-NZDUSD-May-Rise-on-RBNZ-Watch-SP-500.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/34vcR4fjpT
NZD/USD Retains Bearish Momentum Ahead of RBNZ- 0.7175 in Focus

NZD/USD Retains Bearish Momentum Ahead of RBNZ- 0.7175 in Focus

2015-03-11 13:40:00
David Song, Strategist
Share:

Talking Points:

- NZD/USD Outlook Hinges on RBNZ; Forward-Guidance in Focus.

- Gold (XAUUSD)$1,155 Support at Risk as Bearish RSI Momentum Gathers Pace.

- USDOLLAR Approaching Channel Resistance Ahead of U.S. Retail Sales.

For more updates, sign up for David's e-mail distribution list.

NZD/USD

NZD/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Even though the Reserve Bank of New Zealand (RBNZ) is widely expected to keep the cash rate at 3.50%, NZD/USD may face fresh 2015 lows should the central bank further delay its normalization cycle and implement a dovish twist to the forward-guidance for monetary policy.
  • As the Relative Strength Index (RSI) retains the bearish momentum, a break of the February low (0.7175) would expose 0.7140-50 (78.6% expansion).
  • Despite the recent weakness in NZD/USD, the DailyFX Speculative Sentiment Index (SSI) shows retail crowd has flipped net-long ahead of RBNZ, with the ratio currently standing at +1.06.

XAU/USD

XAU/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • String of lower-highs in Gold (XAU/USD) favors the approach to ‘sell-bounces’ especially as the RSI retains the bearish momentum and pushes deeper into oversold territory.
  • Still appears as though gold is being treated more as a commodity rather than a currency as it largely moves in-line with silver (XAG/USD).
  • Break of the $1,155 (61.8% retracement) support zone would bring up $1,136 (100% expansion) next on the radar.

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Price & Time:Sterling Bucks USD Strength But For How Long?

GBPAUD Scalps Target 1.9850 Resistance Ahead of UK & AUS Data

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

12076.18

12084.41

12031.1

0.28

104.32%

NZD/USD Retains Bearish Momentum Ahead of RBNZ- 0.7175 in FocusUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar continues to clear near-term targets as the bullish RSI momentum gathers pace; will continue to look for further strength as the oscillator pushes deeper into oversold territory.
  • Despite expectations of seeing a 0.3% rebound in U.S. Retail Sales, may see private-sector continue to disappoint as wage growth remains subdued.
  • Looking for a close above 12,073 (100% expansion) to favor a further advance; will watch the 12,100 handle for psychological resistance.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

MBA Mortgage Applications (MAR 6)

11:00

--

-1.3%

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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

DISCLOSURES