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
EUR/USD
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
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
Bearish
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • 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/38gTDn8ejP https://t.co/FBT1eSZdjF
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/LRL1iD3JDt
  • Even though the Australian Dollar lost some ground this week, support levels held. Bearish developments are brewing in $AUDUSD and $AUDJPY but remain unconfirmed. What else does #AUD face ahead technically? - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/10/24/Australian-Dollar-Technical-Forecast-AUDUSD-AUDJPY-EURAUD-GBPAUD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/0gHyXW1vHh
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/LjEjTexrCg https://t.co/9qcanKW0uT
  • Third wave? We haven’t beaten the first wave. Until the virus is under control, the US economy won’t be able to properly heal, plain & simple. The lack of a competent response saps courage. Defeat the virus, then get people back to work. In that order. https://t.co/8R8IyTZejM
  • The British Pound may fall if EU and UK negotiators fail to reach a consensus as the December 31 deadline nears. The third presidential debate is on deck, how might markets react? Find out from @ZabelinDimitri here:https://t.co/kDSYzBDA3t https://t.co/80xL2Hyat7
  • The #Fed b/s hit a record high USD ~7.18T this week! Been awhile since I last did an update so here it is! I smoothened out analysis by using 4W moving averages You can see how into summer #SP500 growth 👇 as the b/s 👇 Since then it flipped until recent fiscal talk jitters https://t.co/4AESBo99dl
  • 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: https://t.co/l705RWumj5 https://t.co/wySomzNGbm
  • RT @FxWestwater: #Copper Price Forecast: US Q3 GDP and Chinese PMI in Focus - via @DailyFX https://www.dailyfx.com/forex/market_alert/2020/10/23/Copper-Price-Forecast-US-Q3-GDP-and-Chinese-PMI-in-Focus.html https://t.co/SV0GskVO…
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.35% 🇨🇭CHF: 0.32% 🇦🇺AUD: 0.28% 🇯🇵JPY: 0.13% 🇨🇦CAD: 0.09% 🇬🇧GBP: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/RXxjsCy8rA
NZD/USD Plunges Below 0.8000 With Bullish Reversal Signals Missing

NZD/USD Plunges Below 0.8000 With Bullish Reversal Signals Missing

2014-09-25 07:06:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • NZD/USD Technical Strategy: Shorts Preferred
  • Daily Remains Devoid Of Bullish Reversal Signals
  • Sights Set On 0.7730 After Breach Of 0.8050

NZD/USD has been pummeled after clearing the 0.8050/60 barrier amid a void of bullish candlesticks. Alongside a core downtrend this may set the Kiwi up for its next leg lower to the September 2013 low at 0.7730.

NZD/USD: Descent Leaves An Absence Of Bullish Candles In Its Wake

NZD/USD Plunges Below 0.8000 With Bullish Reversal Signals Missing

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

The four hour timeframe is similarly devoid of reversal candlestick patterns. This casts some doubt over the potential for a corrective bounce over the session ahead.

NZD/USD: Absence of Bullish Signals Casts Doubt On Bounce

NZD/USD Plunges Below 0.8000 With Bullish Reversal Signals Missing

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