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
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
Gold
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
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
Bitcoin
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
More View more
Real Time News
  • Fed Chair Powell: - Support from fiscal policy would be important in a downturn $DXY
  • US Dollar Threatens Breakout: USD Ascending Triangle Ahead of Powell https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2019/11/13/us-dollar-threatens-breakout-usd-ascending-triangle-ahead-of-powell-js55.html https://t.co/iGy52h0EVm
  • #Tariffs hurt, according to the Port of Los Angeles. "There are 3 million jobs nationwide that are related to the trade moving through the Ports, of this nearly 1.47 million are related to the cargo affected by tariffs." Full Study: https://t.co/ZJkCFfXyV4 h/t @carlquintanilla https://t.co/CilRNagr3b
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -0.33% Wall Street: -0.34% France 40: -0.37% Germany 30: -0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UTWymWFDP1
  • 🚨 #Forex Market Alert 🚨 $USDJPY & $USDCHF Oscillate on Mixed US CPI Data Ahead of Powell Link via @DailyFX: https://www.dailyfx.com/forex/fundamental/us_dollar_index/daily_dollar/2019/11/13/usdjpy-usdchf-us-cpi-inflation-report-fed-chair-powell-ahead.html
  • #FTSE: A bearish scenario that is growing teeth. A close below yesterday’s low at 7258 is viewed as a catalyst for further selling. Get your technical analysis from @PaulRobinsonFX here:https://t.co/E3SzfWl1Lv https://t.co/KghelaBRhc
  • $AUDUSD is testing channel support https://t.co/eRwzmvZxwg
  • 🇺🇸 USD Real Avg Hourly Earning (YoY) (OCT), Actual: 1.2% Expected: N/A Previous: 1.3% https://www.dailyfx.com/economic-calendar#2019-11-13
  • 🇺🇸 USD Real Avg Weekly Earnings (YoY) (OCT), Actual: 0.9% Expected: N/A Previous: 1.0% https://www.dailyfx.com/economic-calendar#2019-11-13
  • Currency markets may be battered by breakneck volatility if a slowdown in global economic growth triggers a collapse in the fragile market for collateralized loan obligations (CLOs). Get your update on #CLO market from @ZabelinDimitri here: https://t.co/KfjjtaXs7b https://t.co/J4y8sO9rER
Pound Trade Setups Should Be Watched Closely

Pound Trade Setups Should Be Watched Closely

2014-05-14 04:02:00
John Kicklighter, Chief Currency Strategist
Share:

The pound is facing immediate volatility risk. For existing sterling exposure, moving up stops or cutting risky positions is a risk-minded move. I have trailed down the stop on my GBPAUD short for that reason.

At the same time, this event risk proffers a serious opportunity. Certainly there is a lot of volatiltiy potential, but my interest is in the fundamental depth the BoE Quarterly Inflation report represents (see my Strategy Video on this event and its trade potential). For an outcome that disappoints high interest rate expectations, my preference for a sterling tumble would be GBPUSD on a break below 1.6750. Should the BoE live up to or beat the hawkish bearing - very difficult to do - I like EURGBP extending its tumble below 0.8150.

A little further out, we have US CPI and Eurozone GDP figures due on Thursday. That impending event risk led me to question the potential in the EURUSD's break below 1.3750 this past session. However, we would need to see a substantial beat for European growth figures and disappointment in inflation to knock the ECB off its stimulus track and US off of Taper. As such, I decided to take a half-size short at 1.3717 with a stop of a little over 100 pips. If the data passes and the former channel support still stand as resistance, I'll build the position.

The euro's medium-term outlook has certainly taken a turn for the worse - and the market seems to be moving proactively on the shift as there is considerable premium to be unwound. Even as a passive flow, when paired against the withdrawn support underneath the yen crosses in the form of the BoJ's write off of a stimulus upgrade, I'm liking EURJPY a distinct trade candidate even before a risk aversion trend builds. I'm watching 140 and will consider the scenarios should we break that floor.

As for my other trades, I still have my EURAUD short, USDCHF long-term long and AUDNZD long-term long.

Find out what live events and webinars are scheduled in DailyFX and DailyFX for this week.

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

DISCLOSURES

News & Analysis at your fingertips.