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
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
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • US Indices are trading higher today as they recover from yesterday's selloff. DOW +1.69% NDX +1.13% SPX +1.66% RUT +0.45% $DOW $QQQ $SPY $IWM
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.32% 🇪🇺EUR: 0.18% 🇨🇭CHF: 0.15% 🇦🇺AUD: 0.09% 🇨🇦CAD: -0.02% 🇯🇵JPY: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/E8tb9vhtOH
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.36% US 500: 1.15% France 40: 0.85% Germany 30: 0.01% FTSE 100: -0.79% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bvANXMTn3y
  • Heads Up:🇷🇺 Unemployment Rate (DEC) due at 16:00 GMT (15min) Expected: 6.1% Previous: 6.1% https://www.dailyfx.com/economic-calendar#2021-01-28
  • #Gold has strengthened today, rising from a morning low around $1,835 to currently trade above $1,860, its highest level since early this week. $XAU $GLD https://t.co/8eyQFhiGVt
  • USD/CAD extends the advance from the January low (1.2590) as the Federal Reserve’s first interest rate decision for 2021 fails to bolster investor confidence. Get your $USDCAD market update from @DavidJSong here:https://t.co/2DaTqSAkVh https://t.co/55v4nPqL2k
  • Another day of pingpong halts for GME already
  • The US Dollar has now slumped after its early morning strength, with the $DXY falling from around 90.80 to currently trade below 90.50. $USD https://t.co/9P6gO3HaZZ
  • GameStop is pushing fresh record highs just north of 480. And yet, the other supercharged shortsqueezes - AMC, BB, BBY, EXPR, etc - are pulling back a little but still very volatility
  • The DAX 30 is struggling to recover from yesterday’s selloff as risk-off sentiment took control of the markets. Get your stock market update from @HathornSabin here: https://t.co/EFVvYy7ypH https://t.co/BjEB5XgGUW
GBPNZD - Consolidating After Major Channel Breakout

GBPNZD - Consolidating After Major Channel Breakout

Paul Robinson, Strategist

Talking Points:

  • GBPNZD consolidating outside of multi-month channel
  • Consolidation working its way towards a triangle formation
  • ~21050 is major monthly resistance over past 3+ years

Over a week ago, I pointed out a symmetrical price & time relationship in GBPNZD which suggested a pullback was in order, however, instead of a material pullback we are now seeing a constructive pullback/consolidation. Upon zooming in on the 4-hr timeframe we can see the consolidation quickly taking the shape of a symmetrical triangle. This is taking place after a significant breakout of a multi-month channel, so considerable upside could come from this should a key monthly level get cleared...

On a breakout above the top-side trend-line of the triangle I will be looking for 21054 (September 2014 high). This price level, to the exact pip, was also the high in 2012 and 21045 was yearly high in 2011. Should GBPNZD break out of the triangle and hold above 21054, my big picture bias for a major rally this year will be strengthened considerably. For now, though, the focus is on seeing whether or not we can maintain this bullish posture and rise out of a short-term pattern towards critical long-term levels.

GBPNZD Daily/4-hr: Sep ’14 – Present

GBPNZD - Consolidating After Major Channel Breakout

--- Written by Paul Robinson, DailyFX Research

To receive research and updates from Paul, you can sign up for DailyFX’s ‘InsideThe Lines’

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

DISCLOSURES