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
EUR/USD
Bearish
Oil - US Crude
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
Wall Street
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇫🇷 Unemployment Benefit Claims (AUG) due at 10:00 GMT (15min) Previous: -172.2K https://www.dailyfx.com/economic-calendar#2020-09-25
  • 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/1oygcFMFNs https://t.co/ImXreWFFFY
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/SbVPuUmpTU
  • 🇮🇹 Consumer Confidence (SEP) Actual: 103.4 Expected: 100.8 Previous: 101.0 https://www.dailyfx.com/economic-calendar#2020-09-25
  • 🇮🇹 Business Confidence (SEP) Actual: 92.1 Expected: 87.5 Previous: 87.1 https://www.dailyfx.com/economic-calendar#2020-09-25
  • 🇮🇹 Consumer Confidence (SEP) Actual: 103.4 Expected: 100.8 Previous: 100.8 https://www.dailyfx.com/economic-calendar#2020-09-25
  • 🇮🇹 Business Confidence (SEP) Actual: 92.1 Expected: 87.5 Previous: 86.1 https://www.dailyfx.com/economic-calendar#2020-09-25
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in EUR/GBP are at opposite extremes with 67.79%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vQ8iSnCFKO
  • Heads Up:🇮🇹 Consumer Confidence (SEP) due at 08:00 GMT (15min) Expected: 100.8 Previous: 100.8 https://www.dailyfx.com/economic-calendar#2020-09-25
  • Heads Up:🇮🇹 Business Confidence (SEP) due at 08:00 GMT (15min) Expected: 87.5 Previous: 86.1 https://www.dailyfx.com/economic-calendar#2020-09-25
Near-term Setups in DXY, USD/JPY & Crude

Near-term Setups in DXY, USD/JPY & Crude

2017-03-09 20:16:00
Michael Boutros, Strategist
Share:

DXY 120min

DXY 120min Chart

We’ve been tracking the ascent in the DXY for the past few weeks and heading into U.S. NFPs tomorrow, the focus remains on the upper parallel (red) with a breach above the monthly opening-range highs at 102.26 needed to mark the next leg higher in the index. Interim support rests with the monthly open which converges with the lower median-line at 101.44. We’ll be looking for a resolution of this key near-term range to offer further guidance on our near-term directional bias.

USD/JPY: The outlook / levels for USDJPY remain unchanged from last week with a break of this week’s opening range keeping the long-bias in play for now. Heading into NFPs 115.50 & 115.93-116.08 are regions of interest of possible near-term exhaustions / resistance. Support & near-term bullish invalidation raised to 113.57.

Crude Daily

Crude Daily Chart

We’ve highlighted the risk to the crude outlook as prices probed critical resistance last week at 54.75-55 with the pullback off this level now testing a key near-term support zone at 48.70-49.07. This region is defined by the 38.2% retracement of the July advance, the 50% retracement of the November advance and the 200-day moving average.

Keep in mind that this decline technically compromises the 2017 opening range and while the broader risk remains for a larger setback in prices, near-term we must respect a rebound off this mark. Interim resistance stands at 50.60/80 backed by bearish invalidation at 51.46/64. A break lower from here targets subsequent support objectives at the 61.8% retracement at 47.16 & basic trendline support extending off the April low, currently ~46.30s.

Looking for trade ideas? Review DailyFX’s 2017 1Q Projections

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

Join Michael for Live Weekly Trading Webinars on Mondays on DailyFX at 13:30 GMT (8:30ET)

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

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

DISCLOSURES