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
Bullish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.61%, while traders in GBP/USD are at opposite extremes with 68.56%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kEdSF6ojIK
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.20% 🇨🇦CAD: -0.21% 🇯🇵JPY: -0.22% 🇪🇺EUR: -0.23% 🇳🇿NZD: -0.57% 🇦🇺AUD: -0.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/sz8V05hZds
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.47% Germany 30: -0.58% France 40: -0.60% Wall Street: -0.75% US 500: -0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NOBNy7vj0M
  • Crude Oil Prices Hold Gains as Stockpiles Fall, OPEC Lifts Demand Outlook https://www.dailyfx.com/forex/market_alert/2021/05/12/Crude-Oil-Prices-Hold-Gains-as-Stockpiles-Fall-OPEC-Lifts-Demand-Outlook.html https://t.co/APWMEPdjwh
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/JzGHRpIOSb
  • Perhaps I'm a bit shell-shocked by the disappointing response from data over the past few weeks (Fed, GDP, NFPs) such that I'm dubious of a 'risk' response to CPI. However, $VIX closed at a two month high this past session https://t.co/jXoajxNjX9
  • The volatility of the first 48 hours of this trading week which has rocked the Nasdaq 100 and other risk measures has drawn blame around inflation. Well, the CPI data is up and the Dollar is ready: https://www.dailyfx.com/forex/video/daily_news_report/2021/05/12/Dollar-Prepared-for-Nasdaq-Volatility-if-Inflation-Data-Can-Stir-Interest.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/xSR7ThfMAM
  • (Sentiment Weekly) Dow Jones, S&P 500 Outlook: Rising Long Bets, Bearish Technical Signs Worrying Recording of today's webinar also in the article below #DowJones #SP500 https://www.dailyfx.com/forex/technical/article/special_report/2021/05/12/Dow-Jones-SP-500-Outlook-Rising-Long-Bets-Bearish-Technical-Signs-Worrying.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/3CEmvEwmnv
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/lLNE9eI4NT
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.10% Gold: -0.38% Silver: -0.81% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/D02uNrtXBx
NZD/USD Doji On The Daily Signals Hesitation Near 2014 High

NZD/USD Doji On The Daily Signals Hesitation Near 2014 High

David de Ferranti, Currency Analyst

Talking Points

  • NZD/USD Technical Strategy: Sidelines Preferred
  • Dojisignals hesitation from traders near key resistance
  • Absence of reversal signals casts doubt on correction

NZD/USD’s consolidation continues as the pair teases traders near key resistance at 0.8780. While a Hanging Man candlestick warned of a correction for the pair, the bears seemingly lost steam shy of support at 0.8700. With a Doji having formed on the daily signs of indecision from traders is evident, which leaves clear directional signals absent.

NZD/USD: Doji Signals Indecision Near Recent Highs

Please add a description for the image.

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

The four hour chart offers a clearer picture of the recent range between 0.8720 and 0.8790. A Morning Star formation near the range-bottom offered a bullish reversal signal and helped herald a recovery for the pair in yesterday’s trading. An absence of bearish patterns casts doubt on the potential for a pullback over the session ahead.

NZD/USD: Morning Star Pattern Yields Intraday Recovery

Please add a description for the image.

Four Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @Davidde

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

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

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

DISCLOSURES