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
Wall Street
More View more
Real Time News
  • Fed's Bullard (2022 voter) - Need to be ready for upside risks to inflation - Labour market is tight according to anecdotal evidence - Committee now only starting to talk about tapering, adds that it will take some time to get that up and running
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 85.96%, while traders in France 40 are at opposite extremes with 69.92%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:💶 ECB President Lagarde Speech due at 14:15 GMT (15min)
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: 0.65% Oil - US Crude: 0.43% Silver: 0.33% View the performance of all markets via
  • US Dollar Index (DXY) squeeze took market by surprise. A small digestion period would do some good for further gains. Get your $USD market update from @PaulRobinsonFX here:
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.83% Wall Street: 0.75% US 500: 0.46% France 40: 0.37% FTSE 100: 0.17% View the performance of all markets via
  • Market drivers for the week after the Fed: MOAR FED
  • FOMC Speakers this week
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • 🇺🇸 Chicago Fed National Activity Index (MAY) Actual: 0.29 Previous: -0.09
Ready for a Strong Reversal but Managing Expectations

Ready for a Strong Reversal but Managing Expectations

John Kicklighter, Chief Strategist

How many times have we found the market's pull back to the very edge of a major reversal in risk trends themselves to only recover their footing and stumble higher. Too many times. This past week ended with another interesting view of risk aversion that brought the S&P 500 Index back to its channel floor, sent EURUSD tumbling and left the dollar-based carry currencies at reversal points. However, I will not try to jump to position for a bigger move until I have something tangible that speaks to confirmation.


For existing positions, my most recent trade (short GBPUSD) returned to positive territory by pulling back with in its range. I've trailed my stop to 20 points below breakeven, and I'll look for a first target at 1.5800. The second objective will be loosely set around 1.5700 but momentum will be just as important here.


The USDJPY long I have is looking very good - though it is woefully small for size. I still think there is a great chance for a pullback should we get a carry unwind in the near future, upon which I may take profit on the existing position before it really turns and build up to a more respectable long position when bearish momentum fades. As for EURCHF...patience.


For setups next week, there are many pairs that have great positioning should risk collapse: NZDUSD, AUDUSD, NZDJPY, EURJPY, GPBJPY, AUDCAD, GBPAUD, EURNZD, etc; but those setups are in flux until the fundamental ground has been laid for such a reversal and follow through is a reasonable expectation.


Meanwhile, what if we firm up and congestion takes over to start the week Monday? Take a look at NZDUSD. It is at the bottom of its channel starting with the February 1st swing low at 0.8285. That is a pair at the extreme of its 170-pip range - great for a break or reversal.

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