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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
More View more
Real Time News
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here:
  • 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:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
Trade Updates for 05/22/2013

Trade Updates for 05/22/2013

Jamie Saettele, CMT, Sr. Technical Strategist

Updates for 5/22/2013...

A USDCHF move towards at leats 1.0100 is probably underway and the market is responding well to .9640 support. Several days of sideways action is welcomed by this order to increase positioin size with a tigher stop. ***Move risk on any remaining longs to .9645...below there would have me looking for support near .9575.

The GBPUSD is nearing possible support from 1.5000/32 but given picture bearishness from the 4 year triangle break in February, one should just let the downside play out. ***Risk on GBPUSD was moved down to 1.5195 last night. I would exit if 1.4900 if reached this week.

The EURUSD could still find a 4th wave high near the current level. The implications are for a drop below 1.2796 before a rally back towards 1.3020/70.

Commodity currencies / EM might be a bit too beat up. USDMXN is coming off after trading into the 4/5 and 4/23 highs. Near term USDZAR structure suggests a final high to complete 5 waves up before a deeper decline. This scenario fits with final lows in the AUDUSD and NZDUSD, probably near .9700 and .8052 before rebounds of several % that last at least a week. Exceeding Tuesday's highs would have me looking at the higher levels outlines in the Daily Technicals.

Follow me on Twitter @JamieSaettele

Email List (Technicals sent in PDF form once a day)

Sentiment in the Forex Market (My Book)

Breakout Trading System (risk of USD reversal increasing makes breakout trading more risky)

Full Technicals

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