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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
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
More View more
Real Time News
  • Gold Forecast - via @DailyFX “Gold price outlook still hinges on stimulus deal expectations and corresponding swings in real yields.” What will I have my eyes on in the week ahead? Link to Analysis: $GC_F $XAUUSD $GLD
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Talks between the EU and UK restarted today and will continue over the weekend as negotiators from both sides battle against the clock. Get your #currencies update from @nickcawley1 here:
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • The US Dollar is losing ground against ASEAN FX, with USD/SGD and USD/IDR possibly readying to extend declines. Will USD/PHP and USD/MYR follow? Find out from @ddubrovskyFX here:
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here:
  • The US Dollar has spent much of October giving back September’s gains. Is there any hope for change? Get your #currencies update from @JStanleyFX here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
NZD Outpaces on USD Correction, EURCAD Scalp In Play as Loonie Lags

NZD Outpaces on USD Correction, EURCAD Scalp In Play as Loonie Lags

2012-03-15 17:50:00
Michael Boutros, Strategist

Daily Winners and Losers

NZD_Outpaces_on_USD_Correction_EURCAD_Scalp_In_Play_as_Loonie_Lags_body_Picture_5.png, NZD Outpaces on USD Correction, EURCAD Scalp In Play as Loonie LagsNZD_Outpaces_on_USD_Correction_EURCAD_Scalp_In_Play_as_Loonie_Lags_body_Picture_4.png, NZD Outpaces on USD Correction, EURCAD Scalp In Play as Loonie LagsNZD_Outpaces_on_USD_Correction_EURCAD_Scalp_In_Play_as_Loonie_Lags_body_Picture_3.png, NZD Outpaces on USD Correction, EURCAD Scalp In Play as Loonie Lags

The New Zealand dollar is the top performer against a weaker greenback in North American trade with an advance of more than 1.30 % on the session. The dollar is weaker against all its major counterparts after four days of consecutive advances. The kiwi’s advance comes on the heels of the largest decline in the pair this year, with the rebound suggesting we may continue to trend higher in the days to come. Today’s advance also marks the largest since January 3rd when the kiwi surged 1.51%.

Currently the kiwi is holding just below interim resistance at the 23.6% Fibonacci extension taken from the February 29th and March 8th crests at 8190 with subsequent topside targets eyed at 8230 and the March 8th highs at 8280. A break here negates this particular extension with such scenario eyeing extended targets at the 83-handle and 8340. Interim support rests at 8165 backed by the 38.2% extension at 8140 and the 8194. Look for the pair to retrace a portion of today’s advance as RSI breaks back below overbought territory with a pullback offering favorable entries for short-term longs.

Key Levels/Indicators



200-Day SMA


100-Day SMA


50-Day SMA




NZD_Outpaces_on_USD_Correction_EURCAD_Scalp_In_Play_as_Loonie_Lags_body_Picture_2.png, NZD Outpaces on USD Correction, EURCAD Scalp In Play as Loonie LagsNZD_Outpaces_on_USD_Correction_EURCAD_Scalp_In_Play_as_Loonie_Lags_body_Picture_1.png, NZD Outpaces on USD Correction, EURCAD Scalp In Play as Loonie Lags

The Canadian dollar is the weakest perfromer with an advance of just 0.13% despite broad-based losses in the greenback. US economic data continues to best expectations, look for the loonie to remain well supported as improving US data and higher crude prices bode well for the Canadian economy. An RSI break below trendline support coupled with a move below the 23.6% Fibonacci extension taken form the March 1st and 9th troughs at 9915 eyes interim support at 9890 backed by 9870. A break at thie levels looks to challenge the 2012 lows at 9845. Topside resistance stands with the 38.2% extension at 9943 with subsequent ceilings eyed at 9965 and trendline resistance dating back to the November 25th highs around 9980.

Today’s weak loonie performance has put our EURCAD scalp in play with topside targets now in veiw as euro gains cotninue to outpace those of the Canadian dollar. For compelte EURCAD scalp targets refer to this week’s Scalp Report.

Key Levels/Indicators



200-Day SMA


100-Day SMA


50-Day SMA




---Written by Michael Boutros, Currency Strategist with

To contact Michael email or follow him on Twitter @MBForex

To be added to Michael’s distribution list, send an email with the subject line “Distribution List”

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