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
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
Oil - US Crude
Bullish
Wall Street
Bearish
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 75.97%, while traders in France 40 are at opposite extremes with 76.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FsFYByWobe
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.51% Silver: 0.28% Gold: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UmBSp15B4F
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.26% 🇳🇿NZD: 0.24% 🇬🇧GBP: 0.20% 🇯🇵JPY: 0.17% 🇨🇭CHF: -0.07% 🇪🇺EUR: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Rhus0rXhmM
  • Gold Price Forecast: XAU Pullback Ahead of FOMC - GLD Levels https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/06/16/Gold-price-forecast-xau-pullback-ahead-of-fomc-gld-gold-gc-levels.html $Gold https://t.co/Mj0i2YvGZl
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: France 40: 0.05% Germany 30: 0.01% FTSE 100: -0.05% Wall Street: -0.07% US 500: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9RcvesS3Sx
  • and Nessun Dorma https://t.co/iyDrAWCik6
  • Please add, 'Won't Get Fooled Again' by The Who to your playlist https://t.co/kIf2IAad9x
  • @JohnKicklighter be sure to put Muse’ ‘Knights of Cydonia’ and ‘Uprising’ into your rotation
  • Saving Ride of the Valkyries by Wagner for the the minutes leading up to the release. Currently on Stockholm Syndrome by Muse
  • Saudi Energy Minister says the oil market is not out of the woods yet - OPEC+ cautious stance is paying off
Near-term Setups in NZDUSD, USDJPY & EURJPY- DXY Levels in Focus

Near-term Setups in NZDUSD, USDJPY & EURJPY- DXY Levels in Focus

Michael Boutros, Strategist

USDOLLAR Daily

Near-term Setups in NZDUSD, USDJPY & EURJPY- DXY Levels in Focus

I highliughted this setup last week in a special report as the DXY continued to trade within a coinsolidation pattern in to the month / quarter close. Today’s rally through key resistance at 96.24/33 was short lived and if we fail to close above, could suggest near-term exhaustion for the greenback. It’s important to note that although the index did break to new monthly highs, the Euro (of which the index is 57% weighted) has NOT made a monthly low – this divergence suggests a change in behavior and often accomapies turns. The non-confirmation of a new high in the USD indicates that the recent push may be a false breakout and leaves the index vulnerable below today’s high.

USDJPY- I’ve been trading the long-side of the pair since last week and heading into key US data the focus remains higher while above slope support at 101.76/84 with our bullish invalidaiton level set to 101.20. A breach above a near-term resistance confluence at 103.50/54 is needed to clear the way for a larger advance targetting 104.47. This setup was highlighted in today’s Scalp Report.

NZDUSD- The Kiwi has been one of our best perfromers to start the week with the pair responding key to resistance earlier today at 7292/96 (bearish invlaidation now lowered to today’s spike high (7311). Downside targets remains unchanged. Review Previous NZDUSD Update (9/21)

EURJPY- I highlighted this setup last week after EURJPY responded to key slope support extending off the July low with the rally already taking out initial topside targets. Focus remains higher while above the monthly / weekly open at 113.63. Topside objectives remain unchanged. Review Previous EURJPY Update (9/29)

For additional insights, including analysis of intraday, daily, weekly and monthly charts, member only webinars, Twitter updates, and specific trade plans, subscribe to SB Trade Desk (click here for more info).

Looking for more trade ideas? Review DailyFX’s 2016 3Q Projections

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or ClickHere to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

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

DISCLOSURES