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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
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
Wall Street
More View more
Real Time News
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn more about controlling greed here:
  • Join @PaulRobinsonFX 's webinar at 5:30 AM EST/10:30 AM GMT where you can learn how to become a better trader in the current market climate. Register here:
  • Heads Up:🇬🇧 BoE Credit Conditions Survey due at 09:30 GMT (15min)
  • 🇿🇦 Retail Sales YoY (NOV) Actual: -4% Expected: -2.5% Previous: -2.3%
  • 🇵🇱 Employment Growth YoY (DEC) Actual: -1% Expected: -1.2% Previous: -1.2%
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • 🇪🇸 Balance of Trade (NOV) Actual: €-0.59B Previous: €-0.65B
  • 🇳🇴 Norges Bank Interest Rate Decision Actual: 0% Expected: 0% Previous: 0%
  • 🇵🇱 Employment Growth YoY (DEC) Actual: -1.0% Expected: -1.2% Previous: -1.2%
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 71.35%. See the summary chart below and full details and charts on DailyFX:
Copper Prices Trade to New Highs. Can the Rally Last?

Copper Prices Trade to New Highs. Can the Rally Last?

Walker England, Forex Trading Instructor

Talking Points:

Copper prices continue to rally, trading to a new monthly high this morning at $2.3112 per pound. This move is significant as it places Copper above the previous April 2016 high of $2.3008. Technically, this move may be seen as a continuation of a bullish trendline breakout sustained late in the month of October. Traders should note however, for the current Copper trend to remain intact, price must next exceed the March 2016 high $2.3252. In the event of a bullish breakout above this point, traders may begin looking for Copper prices to rise towards next resistance of $2.4370.

Copper Prices, Daily Chart Range

Copper Prices Trade to New Highs. Can the Rally Last?

(Created Using TradingView Charts)

If copper prices fail to breakout to new highs, it may suggest that the metal is in a broader consolidating pattern. In this scenario, traders may look for copper to turn near present levels and descend back towards values of daily support. The support zone depicted above include a series of lows near the April 2016 low of $2.0695. In the event that prices trade to support, a bounce in price would again suggest that Copper is consolidating in an ongoing range.

In the event of a turn lower, traders should watch for a bearish breakout below $2.0695. A decline to this point open up Copper prices to retest the June low of $2.0120. Any move in prices beyond this point would expose current yearly lows at 1.9360, and suggest that the commodity is beginning a fresh daily downtrend.

--- Written by Walker, Analyst for

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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