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
Bearish
Gold
Bearish
GBP/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
USD/JPY
Bullish
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
  • RT @KyleR_IG: The curve on Friday. https://t.co/do1E6LmfRM
  • Gold suffered a significant breakdown last week as it plummeted beneath support and tagged new lows. Get your $XAUUSD market update from @PeterHanksFX here:https://t.co/850orYzr93 https://t.co/yMTFkLQJSd
  • The Canadian Dollar was hobbled last week, nearly falling through key technical levels. But said technical thresholds were never tripped. Get your $CAD market update from @CVecchioFX here: https://t.co/xEKh42TRbx https://t.co/uB7gQg5ztB
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.60% 🇳🇿NZD: 0.37% 🇪🇺EUR: 0.34% 🇨🇦CAD: 0.07% 🇯🇵JPY: 0.06% 🇨🇭CHF: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cprSmzQd2v
  • 🇳🇿 Building Permits MoM (JAN) Actual: 2.1% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-03-02
  • Heads Up:🇦🇺 Markit Services PMI Final (FEB) due at 22:00 GMT (15min) Previous: 55.6 https://www.dailyfx.com/economic-calendar#2021-03-02
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 0.70% Silver: 0.68% Oil - US Crude: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7oCCFYvG6O
  • EUR/USD appears to be defending the yearly low (1.1952) even as European Central Bank (ECB) officials endorse a dovish forward guidance for monetary policy. Get your $EURUSD market update from @DavidJSong here:https://t.co/CMCUpx5ssP https://t.co/UXLAKmdeTX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.63%, while traders in Germany 30 are at opposite extremes with 71.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/bmtKjceCBe
  • Heads Up:🇳🇿 Building Permits MoM (JAN) due at 21:45 GMT (15min) Previous: 4.9% https://www.dailyfx.com/economic-calendar#2021-03-02
NZD/USD Awaiting Break Of 0.8400 With Reversal Signals Lacking

NZD/USD Awaiting Break Of 0.8400 With Reversal Signals Lacking

David de Ferranti, Currency Analyst

Talking Points

  • NZD/USD Technical Strategy: Shorts Preferred
  • Absence of Reversal Signals Suggests Recovery Unlikely
  • Daily Close Below 0.8400 To Open The 0.8260 Floor

The New Zealand Dollar has finally cracked the 0.8460 barrier with a void of bullish reversal signals suggesting a recovery may be unlikely. A push past the nearby 0.8400 floor would set the scene for a descent towards the mid-February lows near 0.8260. However, subdued trading volume thus far to accompany the move warrants some skepticism and could be suggestive of a consolidation for the Kiwi.

NZD/USD: Awaiting Break Of 0.8400 With Reversal Signals Lacking

NZD/USD Awaiting Break Of 0.8400 With Reversal Signals Lacking

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

The four hour chart paints a similar picture to the daily. An absence of bullish candlestick formations leaves little in the way to suggest a recovery over the session ahead.

NZD/USD: Intraday Recovery Questionable With Absence of Bullish Candlesticks

NZD/USD Awaiting Break Of 0.8400 With Reversal Signals Lacking

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