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
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
More View more
Real Time News
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.01% US 500: -0.02% Germany 30: -0.15% France 40: -0.27% FTSE 100: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/cM1AaFUMth
  • Gold prices are finally showing life in what should be one of the best fundamental environments in recent history.Get your $XAUUSD market update from @CVecchioFX here:https://t.co/HnvUE9TvP8 https://t.co/GuLYbE19VH
  • ECB VP de Guindos: - ECB forecasts inflation to decline next year and remain low - There is still time to decide on the PEPP program's destiny $EUR
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.74% Gold: 1.27% Oil - US Crude: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/h3JUhrkoia
  • USD/CAD continues to reverse lower, now trading below the June swing high $USDCAD https://t.co/dl3shF0neT
  • Company earnings bolster FTSE 100 index. Downtrend on UK treasury yields continues. Get your market update from @WVenketas here:https://t.co/b7ALnOgbaO https://t.co/MVR4c4VVTZ
  • https://t.co/Ldf98qDw0P
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.15%, while traders in Wall Street are at opposite extremes with 75.10%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/CeIupH0opI
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.61% Wall Street: 0.61% FTSE 100: -0.04% Germany 30: -0.04% France 40: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/iblONqMY4m
  • EUR/USD continues to push higher on post-FOMC USD weakness, eyeing test of 1.19 $EURUSD https://t.co/yzkh0Cjlj3
Near-term Setups in EUR/USD, USD/JPY and USD/CHF

Near-term Setups in EUR/USD, USD/JPY and USD/CHF

Michael Boutros, Strategist

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

EUR/USD Weekly Price Chart

EUR/USD Price Chart - Weekly

We’ve been tracking this reversal in the EUR/USD since the start of the week with the rally failing yesterday at former slope support (now resistance) extending off the 2016 low. Interim support at 1.1510 backed by 1.1450 – both regions of interest for exhaustion / long-entries IF price is indeed heading higher. Resistance near-term still 1.1650/60. Intraday trading levels remain unchanged from this week’s EUR/USD Scalp Report.Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

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

USD/CHF 240 Price Chart

USD/CHF Price Chart - 240min

Last week we highlighted a well-defined monthly opening range in USD/CHF just above confluence support at 9890-9902. Our ‘Bottom line’ favored, “fading strength while within this zone until we get the definitive break’ with a break lower targeting 9846/50 backed by 9784/88- a region defined by the 100% extension and the June lows. Price rebounded off the lower parallel yesterday and IF the breakdown is legit, advances should be capped by the median-line around ~9880- looking for possible re-entry there. Bearish invalidation now at 9900.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

USD/JPY Weekly Price Chart

USD/JPY Price Chart - Weekly

USD/JPY responded to a major support confluence this week at 109.91 with price now approaching the 2015 trendline resistance yet again. Keep an eye on the weekly close here with a breach /close above 111.48 needed to fuel the next leg higher. Intraday trading levels remain unchanged from this week’s USD/JPY Scalp Report.

Find yourself getting trigger shy or missing opportunities? Learn how to build Confidence in Your Trading

-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