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
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
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
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Hey traders! Wrap up your week with a market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/zOiAQGMNzY
  • $EURGBP has strengthened today, rising back above the 0.8700 level for the first time in a week. The pair is trading near the highs set in mid April and late February. $EUR $GBP https://t.co/RSkMhvLQEQ
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇦🇺AUD: 0.29% 🇨🇦CAD: 0.10% 🇬🇧GBP: 0.06% 🇨🇭CHF: 0.06% 🇯🇵JPY: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OODkBySEaS
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.66% Wall Street: 0.42% FTSE 100: -0.13% France 40: -0.28% Germany 30: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0PTPoUF2Jz
  • #Gold has slipped to its lowest level since Tuesday today. After meeting resistance around 1,795 this morning, the precious metal fell back to trade near the 1,770 level. $XAU $GLD https://t.co/tOiSk0n6t5
  • Biden’s proposed tax hike sees investors unload profitable assets. Bitcoin intensifies losses, falls below $50,000. Get your $btc market update from @Daniela here:https://t.co/pkHFvFotbz https://t.co/1R7T4HpfQX
  • With the US data beating expectations, we have all of the major developed world economies reporting April PMIs with a significant improvement in economic activity for the current month. Seems only black swans and regulations can stop the train now... https://t.co/HpOW5ul5YW
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.92% Gold: -0.24% Silver: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ck2iRms5Hp
  • Heads Up:💶 ECB President Lagarde Speech due at 14:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-23
  • $EURUSD is currently trading back above the 1.2060 level today, around its highest point since early March. This is the third time of the week that the pair has tested the 1.2060 level. $EUR $USD https://t.co/HUbjgKOhCR
Near-term Setups in GBP/USD, USD/JPY, AUD/JPY

Near-term Setups in GBP/USD, USD/JPY, AUD/JPY

Michael Boutros, Strategist

Here's an update on a few of the setups we’ve been tracking this week. Find a detailed, in-depth review of these setups and more in this week’s Strategy Webinar.

GBP/USD Weekly Chart

GBP/USD Price Chart - Weekly Timeframe

Earlier this week I highlighted a definitive break-out in the British Pound with the pair surging through slope resistance as the advance extends to fresh 19-month highs. The rally is now eyeing resistance targets at 1.4356 backed closely by the upper median-line parallel which converges on the 200-week moving average just below the 1.44-handle. Both these targets represent areas of interest for near-term exhaustion. Bottom line: the focus remains higher while above 1.3952 with a breach targeting the 50% retracement of the Brexit decline at 1.4571.

New to Forex? Get started with our Free Trading Guide!

USD/JPY Weekly Chart

USD/JPY Price Chart - Weekly Timeframe

Price slipped below confluence down-trend support this week and a clear break of the monthly opening range keeps the focus lower heading into the close of the month. That said, price seems a bit stretched here and we’re on the lookout for a rally to fade while below 109.55 targeting 107.84 & 107.50. I highlighted this setup in today’s Scalp Report.

Learn the traits of a successful trader in our Free eBook!

AUD/JPY Daily Chart

AUD/JPY Price Chart - Daily Timeframe

AUD/JPY is has set a well-defined monthly opening range and we’ve been trading the short-side since the 1/23 outside-day reversal off the 89.03/16 resistance range. Price is attempting to break below monthly / yearly open support today with our focus on a reaction down at 87.28- a break below this threshold would suggest a larger correction is underway with such a scenario targeting subsequent support objectives into the 86-handle. Levels / outlook remain unchanged from this week’s AUD/JPY Scalp Report.

Join Michael on Fridays for his bi-weekly Webinar on the Foundations of Technical Analysis- Register for Free Here!

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

Follow Michaelon Twitter @MBForex or contact him at mboutros@dailyfx.com

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

DISCLOSURES