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
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
  • UK money markets erase bets on BoE rate cut - BBG. #BoE $GBP
  • $EURUSD has strengthened today amidst weakness from the US Dollar, rising back above the 1.2200 level for the first time since early January. $EUR $USD https://t.co/pQg3qOA4dM
  • $USD is weak, so is $Gold continued bearish move from that resistance inflection earlier this week. making another move towards the key support zone 1763-1766 (img 2) $GC $GLD https://t.co/MW8A7cf8Wh https://t.co/1cwWumk1jh
  • $USDCAD crushed through that 1.2500 handle, but selling seems to be slowing below the psych level. could be an item of resistance for bearish trend plays in the pair https://t.co/PYNl1F4kqG https://t.co/g1xGtf28LM
  • Fed's Bostic: - Economy is currently in a rough patch, recovery has been very uneven - GDP rebound has happened faster than employment rebound - Optimistic that vaccinations will drive faster job growth - Fed's mandate focuses on employment, not GDP #Fed $USD
  • Yields on the US 10y Treasury tightened slightly following strong durable goods orders and lower than expected jobless claims prints, falling from 1.46% to 1.44%. $USD $GOVT https://t.co/rNYUqJe7AE
  • GBP/CNH approaching an interesting area of longer-term resistance... #yuan #sterling #gbpcnh @DailyFX Prices via @IGcom https://t.co/mCVu8Op8JW
  • 🇺🇸 GDP Price Index QoQ 2nd Est (Q4) Actual: 1.8% Expected: 2% Previous: 3.3% https://www.dailyfx.com/economic-calendar#2021-02-25
  • 🇺🇸 Initial Jobless Claims (20/FEB) Actual: 730K Expected: 838K Previous: 841K https://www.dailyfx.com/economic-calendar#2021-02-25
  • 🇺🇸 Jobless Claims 4-week Average (FEB/20) Actual: 807.75K Previous: 828.25K https://www.dailyfx.com/economic-calendar#2021-02-25
Tips on the Fibonacci Tool

Tips on the Fibonacci Tool

Richard Krivo, Trading Instructor

Instructor's Response:

 Yes...

 
That is the way that the Fibonacci tool would be used in a downtrend.  Keep in mind, however, that price can retrace beyond the 50.0% level. Wait until  the 50% level is tested twice before making the determination to take a short position. Then a stop can be placed a bit above the highest wick in the formation.
 
Also, for the most accurate usage of the Fib tool, be certain that the line is drawn from the top of the wick on your Swing High to the bottom of the wick on your Swing Low in a downtrend. The reverse would be true in an uptrend.
 
See the chart below for an example...
 
chart 5 11 10

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

DISCLOSURES