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.



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
Please try again
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
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX!
  • Bitcoin ended a 10 consecutive day advance with yesterday's bearish close - breaking pace only after it overtook the 100-day moving average. That 10-day climb matches the longest bull charge with only two other examples. $BTCUSD
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • Tech stocks pulled back from record territory after Amazon posted tepid Q3 guidance. Get your weekly equities forecast from @margaretyjy here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here:
  • Recent price action in the US Dollar Index (DXY) casts a bearish outlook for the Greenback as it extends the series of lower highs and lows from earlier this week. Get your weekly USD technical forecast from @DavidJSong here:
  • USD/MXN drops back into its recent range as investors await further guidance from economic data. Get your weekly Mexican Peso forecast from @HathornSabin here:
CAD Continues to Buck Broader Risk Trends- NZD Still Bearish Below 82

CAD Continues to Buck Broader Risk Trends- NZD Still Bearish Below 82

Michael Boutros, Strategist

Daily Winners and Losers

CAD_Continues_to_Buck_Broader_Risk_Trends-_NZD_Still_Bearish_Below_82_body_Picture_7.png, CAD Continues to Buck Broader Risk Trends- NZD Still Bearish Below 82CAD_Continues_to_Buck_Broader_Risk_Trends-_NZD_Still_Bearish_Below_82_body_Picture_6.png, CAD Continues to Buck Broader Risk Trends- NZD Still Bearish Below 82CAD_Continues_to_Buck_Broader_Risk_Trends-_NZD_Still_Bearish_Below_82_body_Picture_5.png, CAD Continues to Buck Broader Risk Trends- NZD Still Bearish Below 82

The Canadian dollar is the top performer against the greenback ahead of the European close with an advance of 0.27% despite broader strength in the dollar across the commodity bloc. The USDCAD has continued to push off key resistance tested on Friday at the 61.8% Fibonacci extension taken from the July 25th and August 2nd crests at 9943 with the pair now probing below the 99-handle. Daily support remains with the 100% extension at 9855 and is backed closely buy the August lows at 9841. We remain cautiously bearish the USDCAD below the 9943 threshold with only a breach above the 23.6% retracement taken from the June decline invalidating our directional bias. Note that daily RSI now looks to break back below former trendline resistance with such a scenario offering further conviction on our near-term outlook.

CAD_Continues_to_Buck_Broader_Risk_Trends-_NZD_Still_Bearish_Below_82_body_Picture_4.png, CAD Continues to Buck Broader Risk Trends- NZD Still Bearish Below 82

The 30min scalp charts show the USDCAD breaking below short-term channel support before compromising the 23.6% Fibonacci extension taken from the August 21st and 23rd troughs at 9909 in overnight trade. Interim support now rests with at 9884 with a break below this mark invalidating this particular scalp setup. Such a scenario eyes subsequent support targets at 9860, last week’s low at 9841 and 9820. A breach back above the 9909 mark eyes ceilings at the 38.2% extension at 9925, the 61.8% extension at 9950 and 9965. Note that with a daily average true range of just 48 pips, scalps in loonie are not recommended at this time until we see a break-out of the 9850-9940 range with a triangle formation in RSI likely to offer a clear trigger break.

Key Levels/Indicators



200-Day SMA


100-Day SMA


50-Day SMA


2012 CAD High


CAD_Continues_to_Buck_Broader_Risk_Trends-_NZD_Still_Bearish_Below_82_body_Picture_3.png, CAD Continues to Buck Broader Risk Trends- NZD Still Bearish Below 82CAD_Continues_to_Buck_Broader_Risk_Trends-_NZD_Still_Bearish_Below_82_body_Picture_2.png, CAD Continues to Buck Broader Risk Trends- NZD Still Bearish Below 82

The New Zealand dollar is the weakest performer against the greenback with a decline of 0.22% on the session after moving nearly 85% of its daily average true range. The NZDUSD has continued to hold below long-standing trendline resistance dating back to the 2011 highs with our bias remaining weighted to the downside so long as the exchange rate continues to respect the 61.8% extension taken from the June and July lows at 8190. Critical support rests with at the confluence of the 38.2% extension and channel support at 8045 with a break below this mark exposing subsequent support targets at the monthly pivot at the 80-figure, the 100-day moving average at 7940 and the S1 monthly pivot at 7885. A breach above the R1 monthly pivot at the 82-handle invalidates our bias with a break above 8230 putting a bullish tone on the pair. Note that daily RSI is now probing below trendline support dating back to the May lows with a break close below this mark offering further conviction on our directional bias.

CAD_Continues_to_Buck_Broader_Risk_Trends-_NZD_Still_Bearish_Below_82_body_Picture_1.png, CAD Continues to Buck Broader Risk Trends- NZD Still Bearish Below 82

The 30min scalp chart shows the NZDUSD struggling to break below the 50% Fibonacci extension taken from the August 8th and 22nd crests at 8092 with a move below this level eyeing subsequent support targets at the 61.8% extension at 8070, 8055, and the 78.65 extension at 8039. Interim resistance stands with the 38.2% extension at 8115 backed by soft resistance at 8060 and the August 22nd high at 8186. Note that the 30min RSI has now broken below short-term trendline support with price action holding above the 8080 low, suggesting that the pair is likely to remain range bound in intra-day trade for the time being before resumption of the downtrend.

Key Levels/Indicators



200-Day SMA


100-Day SMA


50-Day SMA


2012 NZD Low


---Written by Michael Boutros, Currency Strategist with

Review today’s Scalp Webinar for further insights and current trade setups

Join Michael on Tuesday morning for a Live Scalping Webinar on DailyFX Plus (Exclusive for Live Clients Only) at 1400 GMT (10ET)

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”

Introduction to Scalping Strategies Webinar

Beginner Fibonacci Expo Presentation

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