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.

Free Trading Guides
EUR/USD
Bearish
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
Oil - US Crude
Bearish
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
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
Bearish
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.01%, while traders in US 500 are at opposite extremes with 77.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/nHiTp6tABc
  • #Yuan has been underperforming its #ASEAN peers (SGD, IDR, PHP, MYR) as US-China tensions have been resurfacing (over Hong Kong), as expected. Notice how #USD is flat as the #HangSeng fell. To learn more about CNY-ASEAN trends, check out my special here - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/04/17/Yuan-SGD-IDR-MYR-PHP-China-ASEAN-FX-Price-Trends-Since-2008.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/Dr0BHzuHQQ
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.00% 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.05% 🇳🇿NZD: -0.12% 🇨🇦CAD: -0.14% 🇦🇺AUD: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HdkFaCg7sp
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.79% France 40: 0.78% FTSE 100: 0.72% Wall Street: 0.58% US 500: 0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/tSax36Fh1j
  • So far this week, #CAD has been the best-performing #G10 FX versus #USD this week with +0.62% spot-returns while #JPY has been the worst with -1.12% [delayed] -BBG
  • A close below the low end of the aforementioned trading zone reflects a stronger bearish momentum and may send USD/CAD towards 1.3511. Get your $USDCAD technical analysis from @malkudsi here: https://t.co/NnyNajRjE9 https://t.co/f7fv8EX89F
  • My trading video for today: '$USDCNH Hits Series Record but Neither $AUDUSD nor S&P 500 Follow' https://www.dailyfx.com/forex/video/daily_news_report/2020/05/28/USDCNH-Hits-Series-Record-but-Neither-AUDUSD-nor-SP-500-Follow.html?ref-author=Kicklighter&QPID=917719&CHID=9
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/J9vu94TSZo
  • Bank of Korea🇰🇷 - Central bank to actively buy government bonds if needed - Considering various steps to stabilize bond markets (BBG) #coronavirus
  • Bank of Korea says US-China tension would be a downside risk to Korea - BBG Learn more about the impact of geopolitics on financial markets from @ZabelinDimitri - https://www.dailyfx.com/authors/Dimitri_Zabelin
Forex Strategy: NZD/USD Eyes 0.8500 With Bullish Signal Absent

Forex Strategy: NZD/USD Eyes 0.8500 With Bullish Signal Absent

2014-04-03 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • NZD/USD Technical Strategy: Sidelines Preferred
  • Doji signaled indecision near key 0.8700 handle
  • 0.8500 mark likely to provide support

The NZD/USD has conducted an about-face following several failed attempts at a breakout above its 2013 high near 0.8700. The Doji noted in recent candlesticks reports helped signal fading momentum amongst the bulls. While sellers briefly paused at the 0.8600 handle the pair was quick to resume its declines in Asian trading today. A break below the next psychologically-significant level at 0.8500 would likely offer a downside target near 0.8400.

NZD/USD: Prices Reverse Following Doji Formation

Forex-Strategy-NZDUSD-Eyes-0.8500-With-Bullish-Signal-Absent_body_Picture_3.png, Forex Strategy: NZD/USD Eyes 0.8500 With Bullish Signal Absent

Daily Chart - Created Using FXCM Marketscope 2.0

Drilling down to examine intraday price action; a bullish reversal signal is notably absent, which puts a potential bounce in doubt.

NZD/USD: Signs of A Bounce Absent

Forex-Strategy-NZDUSD-Eyes-0.8500-With-Bullish-Signal-Absent_body_Picture_2.png, Forex Strategy: NZD/USD Eyes 0.8500 With Bullish Signal Absent

Four Hour Chart - Created Using FXCM Marketscope 2.0

Finally, taking some broader context from the weekly chart; a Bearish Engulfing pattern appears to be forming which could warn of a more significant decline for NZD/USD. However, the second candle has yet to close and receive confirmation from a second down period to be validated.

NZD/USD: Bearish Engulfing Pattern Forming

Forex-Strategy-NZDUSD-Eyes-0.8500-With-Bullish-Signal-Absent_body_Picture_1.png, Forex Strategy: NZD/USD Eyes 0.8500 With Bullish Signal Absent

Weekly Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, FXCM

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

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

DISCLOSURES

News & Analysis at your fingertips.