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.

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
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
More View more
Real Time News
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/s4lZWdJoXV
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here: https://t.co/jcwhcsUBEN https://t.co/tKrlrRZlZn
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/MGy9OTXpUI
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here: https://t.co/ph20zFv4qS https://t.co/v4g9ATf4rr
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/De69mTseZN
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/D7AeTM5OpH
  • 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: https://t.co/9B4rJnzWuz https://t.co/ENF3xlkuyP
  • 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: https://t.co/rz7fqi8ZEe https://t.co/Gps2Xp32h9
  • 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: https://t.co/kODPAfJE79 https://t.co/hftCEho1lM
  • 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: https://t.co/MzaIl7tPmZ
Shifting Out of Short-Term Trades

Shifting Out of Short-Term Trades

John Kicklighter, Chief Strategist

I usually try to balance my positions ahead of fundamental event risk that can significantly alter risk appetite trends. We are facing just such a threat with the EU Summit. What makes this situation even more complicated though is that I cannot establish a good read on either direction or volatility. The complexity of this event will confuse the consensus interpretation until the final take is offered - and even then, we may have an issue for establishing what the euro and risk trends should do.

...

As such, I am happy that the second half of my AUDUSD short from last week hit its trailed stop (for 10 points of profit). That leaves me with no direct exposure to risk appetite trends. My starter (read small) NZDCAD short from 0.8105 (stop of 0.8175) has a modest connection to risk trends, but far reduced between two investment currencies. If we see risk at least moderately weakened while it slides below 0.8080, I'll build it to a full size positon.

...

I also decided to take the second half of my CADCHF long off at 150 pips profit (the first was approximatel 130). I would still like a break of 0.94 for a new bullish trend, but there is real opportunity cost if it retraces. In the meantime, I still have my long EURCHF and USDJPY positions on with an outlook that spans weeks and months.

...

Since it will be difficult for the market masses to get a read on the EU Summit, my interest in risk-based swings is modest. I can see EURJPY as a direct benefactor of volatiltiy with a 101.50 - 98.75 breakout. AUDJPY, NZDJPY and CADJPY all have their appeal. AUDUSD I like below parity, but the upside is too difficult to argue against negative rate expectations and a disappointing 2Q earnings forecast. Perhaps the most fundamentally convoluted pair to work with though would be EURUSD.

...

In the meantime, I have grown an affinity for another non-risk standard: GBPCAD. A look at the daily or 8-hour chart shows a wedge within a wedge. I would rather play the range between 1.6050 to 1.5950 to 1.5850, but I could also move on short-term breakout potential.

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

DISCLOSURES