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
Bullish
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/bpKdIqGxsn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/jmcAIW4w5k
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/M9isuvnzqF
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here: https://t.co/6Ct5R0H41F https://t.co/c4rXmMjMrv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/4dhCP5pnxM
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here: https://t.co/kLXZewWBMd https://t.co/w1Nu0z569m
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/Gn41XsGktg
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/2AR1qgx0tz
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here: https://t.co/5rjm2gr3EL https://t.co/aLwhWHMPqz
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/obH0RFLKhC
NZD/USD Downside Targets Remain Favored on Bearish Formation

NZD/USD Downside Targets Remain Favored on Bearish Formation

David Song, Strategist

Talking Points:

- NZD/USD Retail Crowd Remains Net-Long Despite Bearish Formation.

- USD/CAD Topside Targets Favored as Pair Clears June High (1.2562).

- USDOLLAR Triangle/Wedge Formation in Focus Going Into Non-Farm Payrolls (NFP) Report.

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

  • NZD/USD remains at risk for a further decline as price & RSI retain the bearish formations; keeping a close eye at channel support along with the Fibonacci overlap coming in around 0.6690 (161.8% expansion) to 0.6710 (78.6% expansion).
  • Despite expectations for a back-to-back rate cut at the Reserve Bank of New Zealand’s (RBNZ) July 22 meeting, the forward-guidance for monetary policy is likely to have a larger impact on NZD/USD as market participants speculation the duration of the fresh easing cycle.
  • DailyFX Speculative Sentiment Index (SSI) shows retail traders remain net-long NZD/USD since May 19, with the ratio still holding near extremes as it sits at +3.17.

USD/CAD

USD/CAD Daily Chart
  • USD/CAD appears to be resuming the long-term bullish trend as it clears the May high (1.2562) and breaks out of the triangle/wedge formation carried over from March; looking for a closing price above 1.2540-50 (23.6% retracement) for conviction/confirmation.
  • Will continue to watch the relationship between oil & the Canadian dollar, while the Bank of Canada (BoC) may largely endorse a wait-and-see approach throughout 2015 amid the ongoing mixed batch of data coming out of the economy.
  • Next topside region of interest comes in around 1.2620 (50% retracement) to 1.2640 (78.6% retracement).

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

Read More:

Price & Time: USDOLLAR Clear As Mud

USD/CAD on Cusp of Breakout as EUR/USD Retreats

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11902.54

11908.02

11849.96

0.39

89.33%

NZD/USD Downside Targets Remain Favored on Bearish FormationUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Despite the bullish reaction in the Dow Jones-FXCM U.S. Dollar to the better-than-expected ADP Employment & ISM Manufacturing survey, the greenback may continue to consolidate in the days ahead as it remains stuck in the triangle/wedge formation from April.
  • Even though market participants anticipate another 230K expansion in U.S. Non-Farm Payrolls (NFP) along with a downtick in the jobless rate, may need a very strong employment report to spur a breaking in the USDOLLAR as market participants continue to mull the Fed liftoff.
  • Lack of momentum to close above near-term resistance around 11,898 (50% retracement) to 11,901 (78.6% expansion) may continue to produce range-bound prices going into the first full-week of July.

Join DailyFX on Demand for Real-Time SSI Updates!

NZD/USD Downside Targets Remain Favored on Bearish Formation

--- 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