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.

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
Oil - US Crude
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
More View more
Real Time News
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/1zuPdKUmyE
  • AUD/USD is likely to face increased volatility over the coming days as it faces a batch of key event risks going into the end of July. Get your Australian Dollar forecast from @DavidJSong here: https://t.co/qFpg0DCxxL https://t.co/quQxg4WBy3
  • The US Dollar outlook against ASEAN currencies like the Singapore Dollar, Thai Baht, Indonesian Rupiah and Philippine Peso remains bullish amid capital outflows risks as Covid cases swell. Get your market update from @ddubrovskyFX here:https://t.co/vRUVxvQP8o https://t.co/cUEkW9BfIP
  • Is investing in your favorite brand or buying its products the better financial move? Read the article for a breakdown. https://t.co/iWOlDAK8cD https://t.co/0uS5VvWj12
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/PW5pCw9dKR
  • The Japanese Yen has been making a comeback, but it may soon resume its decline against the US Dollar as USD/JPY consolidates within a bullish Falling Wedge. Watch for a breakout. Get your market update from @ddubrovskyFX here:https://t.co/zxRWoNR4lS https://t.co/bXTx0TSRmU
  • BTC/USD treading water sideways, 28600 the big level to watch. ETH/USD working on forming a nice-looking descending wedge. Get your market update from @PaulRobinsonFX here:https://t.co/H1qOV4FR1P https://t.co/tjutUl7Nt7
  • Gold hasn’t been very active the past few sessions, but that could change next week and provide a stronger trading bias. Get your weekly gold technical forecast from @PaulRobinsonFX here: https://t.co/HaEe3i4Sug https://t.co/LsARS2mnFI
  • Market uncertainty sees GBP pairs break out of their ranges. Get your weekly GBP forecast from @HathornSabin here: https://t.co/IRO7a6Jv8J https://t.co/4LxWz7sOVF
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.01% 🇪🇺EUR: 0.01% 🇨🇦CAD: -0.03% 🇬🇧GBP: -0.16% 🇦🇺AUD: -0.21% 🇯🇵JPY: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AXKeEsin95
Price & Time: NZD/USD -  Timing Tests Ahead

Price & Time: NZD/USD - Timing Tests Ahead

Research, Research Team

Price & Time covers key technical themes daily and can be delivered to your inbox each morning by joining the distribution list: Price & Time

Talking Points

  • NZD/USD at important time retracement this week
  • Month-to-date high remains key pivot

Unfamiliar with Fibonacci Relationships? Learn more about them HERE

NZD/USD: Timing Tests Ahead

Price & Time: NZD/USD -  Timing Tests Ahead

The reversal last quarter in NZD/USD occurred right around the 38% retracement in time of the advance between the low recorded in 2000 and the all-time high recorded in 2011. The advance that has followed has been fairly swift with the exchange rate rallying some 10% over the past month. The timing relationship at the low and the aggressiveness of the proceeding advance obviously allows for the possibility of a much more important move higher continuing from here, but before getting too bullish on the Kiwi I would like to see how the exchange rate contends with the several key timing hurdles over the next few weeks.

The first bit of “time resistance” occurs this week as we are at the 61.8% retracement of the time elapsed between the 2012 low and the 2014 secondary high. Relationships related to this advance have already proven influential as the second quarter high this year occurred right at the 38% retracement in time of this move. As we move into the first weeks of November, I see several more timing tests as the exchange rate will be an Armstrong Pi related cycle of 4.3 years from the 2011 all-time high and a geometrically significant 1273 calendar days from the May 2012 low – among other things. If the broader downtrend in place since July of 2014 is going to reassert itself then this is the time from where I would expect it to do so.

Price is another matter as I will need to see what spot is doing into these timing windows, but I see important pockets of resistance at .6880, .6970 and around .7150. Another scenario worth considering is that exchange rate could put in some sort of secondary low over the next few weeks. However, I would need to see some material weakness develop in the Kiwi to take this possibility more seriously.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

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

DISCLOSURES