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.

Free Trading Guides
EUR/USD
Bullish
GBP/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
USD/JPY
Bullish
Gold
Mixed
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • #Gold prices soared towards the 2013 high in the best week since June 2019. The medium-term $XAUUSD technical outlook is bullish. The week ahead will be scrutinized for signs of a top #technicalanalysis - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/02/21/Gold-Price-Technical-Forecast-Bullish-as-XAUUSD-Targets-2013-High.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/KwGYG9n7hM
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.60% 🇬🇧GBP: 0.59% 🇪🇺EUR: 0.59% 🇳🇿NZD: 0.29% 🇨🇦CAD: 0.26% 🇦🇺AUD: 0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zlA41tLYcc
  • The $SPX closed a volatile week right on confluent support around 3337-3340 Holding this area will be critical going forward https://t.co/CKm6DLDYDw
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 1.49% Silver: 0.72% Oil - US Crude: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/f60M6H4z0O
  • France outlook downgraded to stable from positive by Moody's ratings - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.96%, while traders in France 40 are at opposite extremes with 75.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0eoB5BRiH6
  • Not only has an equally-weighted (USD, EUR, GBP, JPY) index of #gold charged to a fresh record high this past week, it has done so on the biggest weekly rally since January 2015 https://t.co/RmtSwlRKtK
  • $USDMXN: A rally into the 19s and then back inside the triangle could really light a fire for a top-side breakout that turns into a sustainable move to the upside. Get your USD/MXN market update from @PaulRobinsonFX here: https://t.co/zhSczLPPlw https://t.co/peLgERMQNy
  • Switzerland Outlook stable, AAA/A-1+ rating affirmed by S&P $USDCHF
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: US 500: -0.01% Wall Street: -0.02% Germany 30: -0.06% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9kz88a0m5l
Jamie's Pick: 02/11/11

Jamie's Pick: 02/11/11

2011-02-11 16:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

I remain bullish the US dollar against several currencies, notably the EURUSD, AUDUSD, and USDJPY.

EURUSD - As mentioned yesterday – “the corrective channel break suggests that the sharp 3rd wave decline is underway. A drop below 13507 would shift focus to the 100% extension at 13429 and the 50 day average at 13361.” The EURUSD has traded below 13507 today and focus shifts to Fibonacci extensions at 13429 and 13234 (these levels line up with former pivots). Near term resistance is 13576.

AUDUSD - The drop below 9962 (February low) is significant because it completes an intra month reversal. The 20 and 50 day averages are holding as support (on a daily closing basis) and a drop below 9803 is needed in order to confirm a larger top. 10065 is near term resistance. Keep in mind that the year to date high remains the January 3rd high (first trading day of the year). This is the most likely date of the year to produce a high or low for the entire year.

USDJPY - As stated yesterday, the move above 8321 and strong trendline break (not to mention breaks above the 20 and 50 day averages) makes it likely that the ultimate break will be to the upside (above 8450). 8368 has now been tested so we could see some consolidation/pullback from here. The short term Elliott channel, and specifically 8300, is now support. From an Elliott perspective, it is possible that the base from the November low is a series of 1st and 2nd waves.

View analysis for other currency pairs.

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

DISCLOSURES

News & Analysis at your fingertips.