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
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • US 10yr Treasury Yields are consolidating right around the 1.60% level today, trading around their highs of the pandemic. $USD https://t.co/9FrulBqqsC
  • #Gold, #Silver, #Dollar, $AUDUSD, $USDCAD and #Bitcoin Technical Levels - Webinar Archive - https://t.co/dkI9RkpZ4w
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.08% 🇬🇧GBP: -0.18% 🇦🇺AUD: -0.19% 🇯🇵JPY: -0.41% 🇪🇺EUR: -0.42% 🇳🇿NZD: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/768NGH3tot
  • #Gold just hit a fresh multi-month low as the precious metal dropped to trade around the $1,680 level. The metal broke through support alongside the rise in yields in February, falling from around $1,800 to its current lows. $XAU $GLD https://t.co/oJvQqE5gfR
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: 3.35% France 40: 2.17% FTSE 100: 1.38% Wall Street: 1.31% US 500: 0.88% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fLfJGdE5Hl
  • Hey traders! Get your Monday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/QO6zl1auQk
  • Really great article - apposite on International Women's Day but also a great read on the other 364 days of the year. @DailyFX h/t Weld Royal and Izaac Brook https://www.dailyfx.com/forex/fundamental/article/special_report/2021/03/08/Three-Women-Leaders-Changing-Finance-Economics-and-Business.html
  • $USDCHF has risen to fresh seven month highs today as the pair continues to trade above the 0.9300 level, at its highest levels since July of 2020. $USD $CHF https://t.co/spI5eIP3NM
  • Germany 30 IG Client Sentiment: Our data shows traders are now at their least net-long Germany 30 since Jan 09 when Germany 30 traded near 14,102.20. A contrarian view of crowd sentiment points to Germany 30 strength. https://www.dailyfx.com/sentiment https://t.co/kBUVfEOnTp
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Silver: 0.07% Gold: -0.74% Oil - US Crude: -1.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wUkbYkPr1x
Long EUR/USD, Long USD/JPY

Long EUR/USD, Long USD/JPY

James Stanley, Senior Strategist

- If you’re looking for trading ideas, check out our Trading Guides. They’re free and updated for Q1, 2017. If you’re looking for ideas more short-term in nature, please check out our IG Client Sentiment.

To receive James Stanley’s Analysis directly via email, please sign up here.

The remainder of this week has heavy headline risk, and one of the few things that remains quite probabilistic is volatility in the U.S. Dollar as we head into what’s expected to be another interest rate hike from the Federal Reserve. The U.S. Dollar is incredibly weak as it furthers its 2017 down-trend, and this has showed even with the Fed remaining persistently-hawkish throughout the year.

This pair of setups looks to take a hedged approach around USD with long USD exposure sought in USD/JPY while short USD exposure is setup in EUR/USD. The goal of such a hedge is to walk away from tomorrow’s FOMC announcement with one side of the setup as a winner while the other gets stopped out by a lesser amount than what the ‘winning’ side of the hedge may run for. The net effective exposure of this setup is long EUR/JPY: But the goal here is to use the price action setup in long EUR/JPY to try to position-in around the Dollar, looking to pair USD with what’s been a strong Euro and, at least up until recently, a weak Yen. Note – it is possible to lose on both sides of a hedge. Such a strategy looks to mitigate risk around ‘big’ headline-moving events; but complete elimination of risk is not possible while carrying exposure, particularly around highly-volatile periods in the market as we’re expecting for the remainder of this week.

Long EUR/USD, stops below 1.1070

Break-even stop move at 1.1295

Target 1: 1.1360

Target 2: 1.1500

Long EUR/USD, Long USD/JPY

Chart prepared by James Stanley

Long USD/JPY, stops below 108.80

Break-even stop move at 110.70

Target 1: 111.61

Target 2: 112.40

Target 3: 113.25

Long EUR/USD, Long USD/JPY

Chart prepared by James Stanley

--- Written by James Stanley, Strategist for DailyFX.com

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Contact and follow James on Twitter: @JStanleyFX

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

DISCLOSURES