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
Bearish
Oil - US Crude
Bearish
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • Heads Up:💶 ECB President Lagarde Speech due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-18
  • Heads Up:💶 Eurogroup Video Conference due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-18
  • Chinese Foreign Ministry: Noticed Report on US halting Huawei supply Urge US to withdraw wrong decision US Huawei move damaging internet supply chains - BBG
  • Canadian Dollar Outlook: USD/CAD Rebound May Continue Ahead of BoC - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/01/18/Canadian-Dollar-Outlook-USDCAD-Rebound-May-Continue-Ahead-of-BoC.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CAD $USDCAD https://t.co/xfAI9M7wi0
  • 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/cP7ZhDHoNA
  • Heads Up:🇨🇳 FDI (YTD) YoY (DEC) due at 07:00 GMT (15min) Previous: 6.3% https://www.dailyfx.com/economic-calendar#2021-01-18
  • Wall Street Futures Update: Dow Jones (-0.133%) S&P 500 (-0.193%) Nasdaq 100 (-0.184%) [delayed] -BBG
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/dPj0seqzQS
  • An upbeat China Q4 GDP reading sent mainland and HK stocks higher, but failed to lift stocks in the rest of Asia: - CSI 300 (+1.20%) - Shanghai Composite (+0.91%) - Hang Seng (+0.65%) - Nikkei 225 (-1.01%) - ASX 200 (-0.78%) - Straits Times (-0.80%)
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in NZD/USD are at opposite extremes with 68.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dNtaWoHOAB
Technicals are Mouth-Watering, Fundamentals Questionable

Technicals are Mouth-Watering, Fundamentals Questionable

2014-04-05 03:38:00
John Kicklighter, Chief Strategist

Risk trends took a dive this past Friday, and a theme and pairs I have been monitoring very closely for some time started to offer the first inklings of a more serious move. Yet, as hefty as the S&P 500 and some of the yen crosses dip was; this is too young a move to throw in over the weekend when we have seen many pullbacks end abruptly in this long-lived bull trend.

That does not mean, however, that there aren't trades in this risk sensitive lot. If risk aversion starts to build steam, there is certainly opportunity. The question is how sincere does the market need to be before I'm convinced.

For pairs like CADJPY and AUDJPY, I just need to see risk aversion is still in place and the market make a move to turn those 10/11-day consecutive rallies. Both of these pairs look great from a technical perspective, and I even had a half size short in the latter (which was stopped out for 50 pips) on the potential that a short-term break would fully turn.

Those two yen crosses are remarkable and highly overdone, which lessens my need for a heavy fundamental push. I will not be so easily won over by USDJPY, EURJPY and GBPJPY. While they all look good, I need heavier risk aversion and key trendline breaks to leverage confidence: 101, 140 and 169.

Outside the traditional risk theme, I still have my USDCAD long (it survived a tightened stop and the volatility after the Canadian and US jobs reports) with a stop set 75 pips lower. I also still hold a EURAUD short and GBPAUD after their respective neckline breaks and the latter has had it stop moved up to 1.8100 (+200).

I also have my longer-term trades for 2014 on via a long AUDNZD and USDCHF. These are lower size and have wider stop to fit the longer-term outlook.

Recent developments in EURUSD and GBPUSD are particularly interesting, but I'm dubious that they can force the serious trendline breaks that currently stand in their way: 1.3650 and 1.6500. If they do, I will evaluate it for potential momentum and decide whether to participate.

Sign up for John’s email distribution list, here.

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

DISCLOSURES