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
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
Oil - US Crude
Mixed
Wall Street
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Fed's Bowman: - Continued monetary and targeted fiscal support may be needed - If virus worsens asset prices will be vulnerable to price drops - BBG
  • Secretary Mnuchin says he will meet with Senator McConnell today - BBG
  • EUR/USD is currently just holding onto 1.1700 as US dollar strength and Euro weakness combine to keep downward pressure on the pair. Get your $EURUSD market update from @nickcawley1 here: https://t.co/u38O9owdB0 https://t.co/BgVq604gBl
  • US Treasury Secretary Steve Mnuchin showed up for follow up stimulus talks with House Speaker Pelosi's team. I remain highly dubious they will hash out this necessary stimulus follow up soon. With the recent layoff announcements, the need is becoming more obvious
  • #Sterling Outlook: Pound Rebound to be Short Lived- $GBPUSD Levels - https://t.co/OMEc8v2XsI https://t.co/bvH498fiHy
  • Fed's Kaplan says rates need to be at zero for next 2.5 to 3 years - CNBC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.18%, while traders in Wall Street are at opposite extremes with 66.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PqDUdLtggr
  • #Gold prices have struggled through September after being one of the best performing assets since global financial markets bottomed out in March. Get your $XAUUSD market update from @CVecchioFX here: https://t.co/9neyikUiP7 https://t.co/IvfwtWGGZg
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.80% Gold: -0.13% Silver: -1.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/z0qHXFaTUg
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.49% 🇨🇦CAD: 0.47% 🇬🇧GBP: 0.39% 🇯🇵JPY: 0.07% 🇨🇭CHF: -0.12% 🇪🇺EUR: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/pLN0iIfs3q
NZD/USD Bulls Lose Steam As A Key Reversal Pattern Emerges

NZD/USD Bulls Lose Steam As A Key Reversal Pattern Emerges

2014-10-10 06:59:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • NZD/USD Technical Strategy: Sidelines Preferred
  • Recovery Stalls As A Bearish Pattern Emerges
  • Dojis Denote Indecision In Intraday Trade

NZD/USD’s recovery has stumbled as a Dark Cloud Cover candlestick formation warns the bulls have lost their grip on the pair. Amid recent choppy price action this may herald a consolidation for the Kiwi. Buying interest is likely to be renewed at the 2014 low near 0.7730.

NZD/USD: Recovery Falters As Bearish Pattern Emerges

NZD/USD Bulls Lose Steam As A Key Reversal Pattern Emerges

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

A string of Dojis on the four hour chart indicates indecision from traders near 0.7850. Yet amid an absence of key reversal patterns a more constructive setup is desired to offer a clearer directional bias.

NZD/USD: Dojis Denote Indecision In Intraday Trade

NZD/USD Bulls Lose Steam As A Key Reversal Pattern Emerges

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