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
Mixed
Oil - US Crude
Bearish
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
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • #Silver has strengthened today, now up over 2%. The precious metal rose from below 26.00 to an intraday high around 26.50, a fresh one month high. $XAG $SLV https://t.co/WlqkMXozH0
  • RT @EnronChairman: I passed a billionaire on the freeway this morning: https://t.co/r7SPRH0zld
  • US 20yr Treasury Auction: - High Yield 2.144%, WI 2.153% (prev. 2.29%) - Bid/Cover 2.42 (prev. 2.51) - 17.74% allotted at high $USD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.20%, while traders in Wall Street are at opposite extremes with 67.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tvymgzx8Cp
  • The US Dollar has dropped to an intraday low after attempting to move higher today. The $DXY rose as high as the 91.40 level before meeting resistance and dropping back lower, now trading around 91.15. $USD https://t.co/9kXnkLUlCZ
  • Mid-Week Market Update- Technical Outlook for $USD Majors, #Gold & #Oil and more! -(Webinar Archive)- https://t.co/lsXyrQRp6I
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.35% Gold: 0.73% Oil - US Crude: -1.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/LpTHYUKJLx
  • Seems the WallStreetBets crowd is talking about the 'typical' top speculative listings - top 2 is the $SPY S&P 500 ETF and the Netflix ($NFLX) post earnings. And number 3 is the Reddit board OG GameStop https://t.co/1BjEVbMDYC
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/oDzWIyV6AP
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.98% 🇳🇿NZD: 0.52% 🇦🇺AUD: 0.35% 🇬🇧GBP: -0.03% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8H7ly6RTkq
New Zealand Dollar Current Technical Condition Similar to 2007

New Zealand Dollar Current Technical Condition Similar to 2007

Jamie Saettele, CMT, Sr. Technical Strategist

FXCM Expo Videos (Innovative Tech. explains Key Reversals and RSI Signals)

Innovative Techniques with Traditional Technical Indicators

Trading with the Elliott Wave Principle

Seeing the Forest from the Trees: An Analysis of Global Markets

Trade Ideas for non-USD Crosses

Dow Jones FXCM Dollar Index (Ticker: USDOLLAR)

Daily Bars

New_Zealand_Dollar_Current_Technical_Condition_Similar_to_2007_body_usdollar.png, New Zealand Dollar Current Technical Condition Similar to 2007

Prepared by Jamie Saettele, CMT

Jamie – Has tested and held the 61.8% retracement of the rally from the October low and series of November lows from 9665 to 9690. Remember, the probability of a reversal increases with the beginning of a new month. Yesterday’s inside day at support offers a bullish setup (stop under 9687).

Euro / US Dollar

Daily

New_Zealand_Dollar_Current_Technical_Condition_Similar_to_2007_body_eurusd.png, New Zealand Dollar Current Technical Condition Similar to 2007

Prepared by Jamie Saettele, CMT

Jamie – Use the first day of the month as an opening range from which to play breakouts. That range is 13218-13025. An upside break targets the 50% retracement of the decline from the October high at 13435 and a downside break targets former resistance at 12875. Near term support for Sunday/Monday is 13120.

British Pound / US Dollar

Daily

New_Zealand_Dollar_Current_Technical_Condition_Similar_to_2007_body_gbpusd.png, New Zealand Dollar Current Technical Condition Similar to 2007

Prepared by Jamie Saettele, CMT

Jamie – There is a bearish setup with Thursday’s inside day at the 2nd standard deviation band. A break below 15706 would shift focus to 15635 and 15515. Exceeding 15882 would negate the bearish setup and target the 200 day average at 15955 and 50% retracement of the decline from the 2011 top at 15989.

Australian Dollar / US Dollar

Daily

New_Zealand_Dollar_Current_Technical_Condition_Similar_to_2007_body_audusd.png, New Zealand Dollar Current Technical Condition Similar to 2007

Prepared by Jamie Saettele, CMT

JamieThe AUDUSD trading right at the September and October highs. Again, the first day of the month range (10740-10568) is critical to positioning for the larger move this month. The next upside levels of interest are a Fibonacci extension at 10825, and July support at 10900. A drop under 10568 is needed in order to trigger a bearish bias towards 10450.

New Zealand Dollar / US Dollar

Daily

New_Zealand_Dollar_Current_Technical_Condition_Similar_to_2007_body_nzdusd.png, New Zealand Dollar Current Technical Condition Similar to 2007

Prepared by Jamie Saettele, CMT

JamieDaily RSI is above 78! This is extremely rare and the most recent instances of RSI > 78 are 4/15/11 and then 7/23/07 and 7/24/07. In 2011, the NZDUSD fell 180 pips over the next 2 days before continuing its advance. The top in July 2007 led to a drop of nearly 1500 pips in 1 month. There is no guarantee of course that this will happen again but the specter of a 15 month head and shoulders top and 5 wave decline from the 2011 high are ‘big picture’ bearish evidence. Coming under 8212 would trigger a bearish bias.

US Dollar / Japanese Yen

Daily

New_Zealand_Dollar_Current_Technical_Condition_Similar_to_2007_body_usdjpy.png, New Zealand Dollar Current Technical Condition Similar to 2007

Prepared by Jamie Saettele, CMT

Jamie – The large USDJPY bearish triangle pattern remains intact but I do NOT advocate shorts at these levels. One, the specter of intervention looms (intervention during the Super Bowl anyone?). Two, the first day of month has held, which is statistically significant. As a trade, I like the upside on dips below 7640. Resistance early next week is 7685-7730.

US Dollar / Canadian Dollar

Daily

New_Zealand_Dollar_Current_Technical_Condition_Similar_to_2007_body_usdcad.png, New Zealand Dollar Current Technical Condition Similar to 2007

Prepared by Jamie Saettele, CMT

JamieThe USDCAD has reached the bottom of channel resistance and slid below the 200 day average (9935). The next level of interest on the downside is the October low at 9892, which is also the 61.8% retracement of the rally from the 2011 low. Expect a reaction from that level. Bears are in control below 10048.

US Dollar / Swiss Franc

Daily

New_Zealand_Dollar_Current_Technical_Condition_Similar_to_2007_body_usdchf.png, New Zealand Dollar Current Technical Condition Similar to 2007

Prepared by Jamie Saettele, CMT

Jamie The USDCHF is in the exact same position as the EURUSD (but the inverse of course). Price has spent the last 6 days in a range and a break of 9250-9114 is needed in order to trigger the next larger move. Exceeding 9250 would shift focus to 9400 while dropping below 9114 targets the 11/30/11 low at 9065. In the case of a downside break, the move likely takes the form of a terminal thrust from a triangle.

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow him on Twitter @JamieSaettele

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com

Jamie is the author of Sentiment in the Forex Market.

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

DISCLOSURES