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
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
GBP/USD
Bearish
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • The Australian Dollar and New Zealand Dollar tend to rise with stocks. They have recently fallen despite gains in the #SP500. What does this mean for $AUDUSD and $NZDUSD ahead? #AUD #NZD #RBA #RBNZ - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/17/AUDUSD-NZDUSD-Outlook-Looks-Past-Stocks-to-Rate-Cut-Bets.html?CHID=9&QPID=917702 https://t.co/ddf2fV7Kyl
  • A few snippets from today's commentary. Check out the link below for the full story (via @DailyFX). https://t.co/I31tuq764r https://t.co/x0BaiOFA1P
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/e2YrN3dBrl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.00%, while traders in France 40 are at opposite extremes with 79.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UL7hqSD2Ki
  • US Dollar Forecast: $USD Lacking Impetus Ahead of Consumer Sentiment #Forex traders shift focus away from US-China trade deal headlines - perhaps toward the monthly release of #ConsumerSentiment data for volatility and clues on the Greenback's next move https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/01/16/us-dollar-forecast-usd-lacking-impetus-ahead-of-consumer-sentiment.html
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.11% 🇦🇺AUD: -0.02% 🇯🇵JPY: -0.03% 🇨🇭CHF: -0.05% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Kxcb9EtIWb
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.45% France 40: 0.26% Wall Street: 0.07% US 500: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/I5YIsKQAog
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (NOV), Actual: 1.3% Expected: 1.0% Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-01-17
  • The $JPY has weakened as a bounce-back in risk appetite saps haven-asset demand. However, the old uptrend line still provides clear resistance. Get your market update from @DavidCottleFX HERE:https://t.co/IMhgQ9jbF9 https://t.co/I7087olftk
  • Heads Up:🇯🇵 JPY Tertiary Industry Index (MoM) (NOV) due at 04:30 GMT (15min), Actual: N/A Expected: 1.0% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-01-17
Tempered Volatility Leaves Us to Trends and Potential Breakouts

Tempered Volatility Leaves Us to Trends and Potential Breakouts

2010-05-12 15:06:00
John Kicklighter, Chief Currency Strategist
Share:
A second day of relatively stable market activity helps us return to a state of normalcy. That means I can once again look for setups that are better suited to my normal time frame rather than the very short-term and 'hold-your-breath' long-term that I have deferred to recently. Though, taking stock of the ample fundamental uncertainty that remains in the market; it will be important to keep on our toes. Stops as well as flexibility in position sizing and objectives is still essential. In the meantime, I am looking to keep with those trends that are already established and set up for another round of positions that are now developing. Carried over from the past week, I am still short EURUSD and EURGBP as their fundamental outlook and technical trends look conducive to further follow through. As for the more timely positions, my short-term USDCAD short setup from yesterday would play out quickly. The 30 point objective proved good enough for a first objective; though there was little additional follow through and the second half of the trade would be knocked out at breakeven. As for AUDCAD, the 0.92 break looks good; but we haven't really seen a bounce back to test former support as new resistance. I may be somewhat aggressive in a limit short at 0.9185; so I may adjust it to account for the market. However, I will not chase this new trend. If it moves too far, I will simply move on to the next trade. Another pair that I am coming back to is AUDCHF. Long-term there is a rising trend channel floor at 0.96; but more immediate is a head-and-shoulders pattern with a neckline around 0.9735. I am looking for an entry on an even shorter time frame near a descending trendline at 0.9935; but a real position will be developed on the neckline break and then trend channel break. Perhaps the most technical of my potential opportunities is CADJPY. The daily time frame is warped by recent volatility; but an hourly chart shows a wedge formation developing with a ceiling near 91.80 and floor at 90.90. This is a terminal pattern and a breakout is near. I would prefer a bearish resolution; but technical congestion may give us difficulty around 90. Thereby; I will want to see momentum in such a break, otherwise it will be better to abandon the setup. A push to the upside has limited reward; so my objective would be kept small.

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

DISCLOSURES

News & Analysis at your fingertips.