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
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
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
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
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
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:https://t.co/QQwAZTxZFg https://t.co/MSOw9DeSxe
  • Wall Street Futures Update: Dow Jones (+0.415%) S&P 500 (+0.417%) Nasdaq 100 (+0.466%) [delayed] -BBG
  • - Trump popularity slowly returning despite a surge of US-based coronavirus cases - Democrats drafting $2.4 trillion aid package as urgency for more stimulus swells - #AUDUSD testing key support at 0.7018 – will a break here accelerate the selloff? https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/24/AUDUSD-at-Key-Support-Trump-Popularity-Edging-Up-Despite-Virus-Spike.html
  • Looks like the #nifty50 is heading for its worst week since early May (-6.08%), over 4 months ago, granted we still have Friday's session left $USDINR has also been climbing lately Might this continue? Stay tuned for a technical special later today! https://t.co/1vdbgAWs0s
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:https://t.co/3UIKmbLIvD https://t.co/vdL3w1KxIZ
  • Australian Dollar Outlook - via @DailyFX: AUD/USD bulls search for support around two-month lows as market sentiment seemingly improves, but the Aussie could remain under pressure as volatility lingers. Full Analysis - https://www.dailyfx.com/forex/market_alert/2020/09/24/australian-dollar-outlook-aud-usd-drops-to-fresh-two-month-low.html $AUDUSD $AUD #FX #Forex #Trading https://t.co/HJqlMqAvt2
  • $USDCNH reversing lower after bursting over 1.5% from the yearly low. Could this be indicative of firming market sentiment? https://t.co/9CDc2Lukuc
  • Heads Up:🇬🇧 Gfk Consumer Confidence (SEP) due at 23:01 GMT (15min) Expected: -27 Previous: -27 https://www.dailyfx.com/economic-calendar#2020-09-24
  • IBEX 35 price action breaks down amid recent market volatility. Get your market update from @FxWestwater here:https://t.co/MX2O5yrAMy https://t.co/po5awA5AZP
  • FTSE Russell says China will be included in global bond index, as widely expected $CNH
USDOLLAR Range Remains in Play Post-NFP; NZD/USD Double-Bottom?

USDOLLAR Range Remains in Play Post-NFP; NZD/USD Double-Bottom?

2015-08-07 17:05:00
David Song, Strategist
Share:

Talking Points:

- USDOLLAR Fails to Hold NFP Gain; Range Remains in Focus Ahead of Retail Sales, U. of Michigan Confidence

- USD/CAD Topside Targets Remain in Focus as Bullish Formation Remains in Play.

- NZD/USD Double-Bottom Formation at Risk on Dismal New Zealand, China Data.

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

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

12023.29

12071.17

12018.44

-0.19

107.88%

USDOLLAR Range Remains in Play Post-NFP; NZD/USD Double-Bottom?USDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar looks poised to retain the range-bound price action carried over from the previous month amid the ongoing failed attempts to close above 12,049 (78.6% retracement); will retail a constructive view as long as the Relative Strength Index (RSI) preserves the bullish momentum from May.
  • The largely in-line U.S. Non-Farm Payrolls (NFP) report should keep the Fed on course to normalize monetary policy in 2015, but may not be enough to secure a September liftoff as wage growth lags behind; will keep a close eye on Retail Sales & the U. of Michigan Confidence survey amid the recent weakness in private-sector consumption.
  • The failed attempts to breakout of the near-term range may bring up near-term support around 11,951 (38.2% expansion) to 11,965 (23.6% retracement) in the days ahead.

Join DailyFX on Demand for Real-Time SSI Updates!

USDOLLAR Range Remains in Play Post-NFP; NZD/USD Double-Bottom?

USD/CAD

USD/CAD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Despite the recent series of lower highs & lows in USD/CAD, will keep a close eye on the topside targets as long as price & RSI preserve the upward trend from earlier this year, with a break/close above 1.3210 (78.6% expansion) opening the door for 1.3280 (78.6% expansion); will also look for continued closing prices above former resistance around 1.3080 (61.8% expansion) for confirmation.
  • The larger-than-expected expansion in Canada Employment may encourage the Bank of Canada (BoC) to endorse a wait-and-see approach, but central bank Governor Stephen Poloz may keep the door open to further reduce the benchmark interest rate amid the growing threat for a technical recession.
  • Nevertheless, the DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-short USD/CAD since June 18, with the ratio coming off of recent extremes as it narrows to -2.00 as 33% of traders are now long.

Read More:

Non-Farm Payroll Comes Largely In-Line, Sinks EURUSD

The Weekly Volume Report: What Does OBV Know?

NZD/USD

NZD/USD Daily Chart
  • NZD/USD appears to be carving a double-bottom formation amid the bullish divergence in the RSI; need a break/close above 0.6690 (161.8% expansion) to 0.6710 (78.6% expansion) to favor a larger correction.
  • However, the key developments coming out of the Asia/Pacific region may limit the topside risk for NZD/USD as New Zealand’s 2Q Retail Sales are projected to increase 0.5% after expanding 2.7% during the first three-months of 2015.
  • Failure to retain the bullish RSI momentum may spur a further decline in the days ahead, with the next region of interest coming in around 0.6370 (50% retracement) to 0.6400 (61.8% retracement).

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

--- 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