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
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YelFfA2Vst
  • 🇮🇩 Interest Rate Decision Actual: 3.5% Expected: 3.5% Previous: 3.5% https://www.dailyfx.com/economic-calendar#2021-04-20
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/5xuwJi0xvX
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.02% Silver: 0.36% Gold: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3QhJMfTWva
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.65% 🇳🇿NZD: 0.58% 🇨🇦CAD: 0.39% 🇬🇧GBP: 0.13% 🇨🇭CHF: 0.03% 🇯🇵JPY: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3ngNFGV4CH
  • Heads Up:🇮🇩 Interest Rate Decision due at 07:30 GMT (15min) Expected: 3.5% Previous: 3.5% https://www.dailyfx.com/economic-calendar#2021-04-20
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.13% US 500: 0.08% Germany 30: -0.16% France 40: -0.19% FTSE 100: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/cmd7UutJDY
  • 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: https://t.co/9S5tXIs3SX https://t.co/bg5cVcLvvW
  • (Commodities) Gold Prices Seesaw as US Dollar, Treasury Yields Diverge Before Netflix Earnings #Gold #XAUUSD #USD #Bonds https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/04/20/Gold-Prices-Seesaw-as-US-Dollar-Treasury-Yields-Diverge-Before-Netflix-Earnings.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/aYDFImOCGw
  • 🇬🇧 Claimant Count Change (MAR) Actual: 10.1K Previous: 86.6K https://www.dailyfx.com/economic-calendar#2021-04-20
6/03/2013 Trading

6/03/2013 Trading

Jamie Saettele, CMT, Sr. Technical Strategist

June is historically the worst month for the stock market. Judging by the last few hours of Friday trading, June apparently came early. A bigger stock market setback probably occurs coincident with a decline in the US Dollar. Why? Long USD and long stocks are both crowded trades. In times of panic, crowded trades get destroyed.

USDOLLAR technicals have pointed us in the right direction of late. Entering May, we were looking for a broad based USD rally to complete 5 waves up from the September low. The reversal off of the Elliott channel (2 reversals actually…5/23 and 5/29) now warns of lower prices in the weeks ahead. How low? I don’t know but I do know that estimated support is 10655 and 10597. Of interest as well is the top side of the former resistance line that extends off of the 2011 and 2012 highs, and of course channel support that defines the advance from the September low.

Bottom line, look lower in the USD over the next 1-2 weeks but into a low. From a trading perspective, I’m looking for short term bearish USD opportunities. USD resistance is estimated at...

EURUSD 1.2934

GBPUSD 1.5128

USDCHF .9618/50

AUDUSD .9620

Follow me on Twitter @JamieSaettele

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

Sentiment in the Forex Market

Full Technicals

DailyFX PLUS

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

DISCLOSURES