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
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • $GBPUSD rose above 1.3700 today, hitting its highest level since the spring of 2018. $GBP $USD https://t.co/gfNCg6Abnr
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.25% Germany 30: 0.23% US 500: 0.16% Wall Street: 0.07% France 40: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/PrYQiwmAJ1
  • ECB President Lagarde: - ECB is "very carefully" monitoring exchange rates - Play an important role in inflation - Reiterates that all instruments can be adjusted and nothing is off the table #ECB $EUR
  • ECB President Lagarde: - "Nothing is off the table" in regard to policy instruments #ECB $EUR
  • ECB President Lagarde: - If and when we have a digital Euro, we will also have banknotes - ECB will make decision in the spring whether to go ahead with digital Euro work - Lots of questions remain, is a complicated issue - Is not "about to come," will be years #ECB $EUR
  • ECB President Lagarde: - An ambitious and coordinated fiscal stance is critical - Fiscal measures should be targeted and temporary - EU aid package must become operational without delay #ECB $EUR
  • ECB President Lagarde: - Risks surrounding Euro-area outlook remain tilted to the downside, but less pronounced - Underlying price pressures are expected to remain subdued - Inflation is likely to increase in the coming months as pandemic's impact fades #ECB $EUR
  • ECB's Lagarde - Downside risks to outlook are less pronounced $EUR
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/UqQKBMNuIA
  • ECB President Lagarde: - Resurgence of pandemic has likely led to decline in activity in Q4 2020 - Will also weigh on activity in Q1 2021 - Fiscal policies are supporting households and firms, but consumers are staying cautious #ECB $EUR
NZD/USD Technical Analysis: Short Trade Confirmation Sought

NZD/USD Technical Analysis: Short Trade Confirmation Sought

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • NZD/USD Technical Strategy: Flat
  • Kiwi Dollar attempting to break range bottom support once more
  • Reversal validation, acceptable risk/reward sought to enter short

The New Zealand Dollar is attempting to break below range support above the 0.67 figure against its US counterpart after re-testing a recently broken trend line. Prices have struggled to build downside momentum after seemingly overturning the upswing from January’s swing lows, but sellers seem intent on trying anew.

A daily close below the May 10 low at 0.6716 paves the way for a test of a horizontal pivot at 0.6576. Alternatively, a move back above trend line support-turned- resistance at 0.6779 opens the door for a challenge of the April 27 close at 0.6823.

Entering shortwould be consistent with expected 2016 fundamental themes but the absence of a validated support break makes taking a trade at current levels appear premature. A better-formed setup with adequate confirmation and acceptable risk/reward parameters will be sought before establishing exposure.

Losing money trading NZD/USD? This might be why.

NZD/USD Technical Analysis: Short Trade Confirmation Sought

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

DISCLOSURES