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EUR/USD
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of clients are net long.
of clients are net short.
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Note: Low and High figures are for the trading day.

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Wall Street
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of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

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  • BoE Focus - Eyes on QE purchase rate (decision to taper would be mechanical, not outright hawkish signal) - Forecasts expected to be upgraded - Bank Rate and APF expected unchanged - GBP option implied move = 74pips
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.18%, while traders in Wall Street are at opposite extremes with 76.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lQqV46DG4c
  • Heads Up:🇬🇧 BoE MPC Vote Cut due at 11:00 GMT (15min) Expected: 0/9 Previous: 0/9 https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 BoE MPC Vote Unchanged due at 11:00 GMT (15min) Expected: 9/9 Previous: 9/9 https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 BoE MPC Vote Hike due at 11:00 GMT (15min) Expected: 0/9 Previous: 0/9 https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 MPC Meeting Minutes due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 Monetary Policy Report due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 BoE Quantitative Easing due at 11:00 GMT (15min) Expected: £875B Previous: £875B https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 BoE Interest Rate Decision due at 11:00 GMT (15min) Expected: 0.1% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-05-06
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Ranging or Trending

Ranging or Trending

Richard Krivo, Trading Instructor

Instructor's Response:Unfortunately we cannot predict what a pair will do before the fact…nothing happens until it happens.What we do know, in a general sense, is that markets are either trending or ranging. If they are trending, at some point they will begin trading in a range and if they are in a range, at some point they will begin trending. Once we have identified that a pair is trading in a range, we can trade that range...buy at support and sell at resistance. Once the pair breaks out of the range, then we would trade the trend…in an uptrend wait for a pullback to support to buy and in a downtrend wait for a pullback to resistance to sell.See the chart below for a visual....

Ranging_or_Trending_body_19085d1221803319-post-day-chart-9-18-08.png, Ranging or Trending

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

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