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
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.03% 🇬🇧GBP: -0.04% 🇨🇭CHF: -0.06% 🇳🇿NZD: -0.09% 🇦🇺AUD: -0.11% 🇨🇦CAD: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/JasY8jNAkb
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.14%, while traders in EUR/USD are at opposite extremes with 72.29%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/68EQmJdwzo
  • 🇦🇺 Wage Price Index YoY (Q1) Actual: 1.5% Expected: 1.4% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-05-19
  • A fairly profound tweet thread from US Treasury Secretary Yellen, who calls for a reframing of US fiscal policy. https://t.co/yxYmHF6ScY
  • Heads Up:🇦🇺 Westpac Leading Index MoM (APR) due at 01:30 GMT (15min) Previous: 0.38% https://www.dailyfx.com/economic-calendar#2021-05-19
  • Heads Up:🇦🇺 Wage Price Index YoY (Q1) due at 01:30 GMT (15min) Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-05-19
  • S&P 500 Index Retreats as Energy Stocks Fall, Nikkei 225 and ASX 200 May Follow https://www.dailyfx.com/forex/market_alert/2021/05/19/SP-500-Index-Retreats-as-Energy-Stocks-Fall-Nikkei-225-and-ASX-200-May-Follow.html https://t.co/gHA0iiLPBr
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/YCzWc2ZrMx
  • The Japanese Yen may fall against its major peers, but there is room for a near-term climb that wouldn’t necessarily overturn a bearish technical bias. USD/JPY is eyeing support. Get your market update from @ddubrovskyFX here:https://t.co/AEnQCXnwAL https://t.co/SxqMuFR3Ht
  • 🇦🇺 Westpac Consumer Confidence Index (MAY) Actual: 113.1 Previous: 118.8 https://www.dailyfx.com/economic-calendar#2021-05-19
Trading Opportunities of 2016: More Than Irish Look for the Pot of Gold

Trading Opportunities of 2016: More Than Irish Look for the Pot of Gold

Jeremy Wagner, CEWA-M, Head of Education

Gold prices appear to be in an ending wave pattern that when finished could send the yellow metal higher. The ending diagonal pattern suggests prices could move back towards 1300-1400 over the coming months as the pattern typically gets completely retraced. Any dovish tone to the Fed’s interest rate hikes may add fuel to this bullish pattern if the interest rate hike path becomes less aggressive.

The possibility of a British exit from the European Union (known as Brexit) may anchor the value of Sterling down. Once the date is established for the vote, it is conceivable hedges may be initiated to neutralize the potential for a currency revaluation resulting from the vote. Therefore, it’s not just the Irish looking for a pot of Gold. The Brits may be looking to get in on it as well using Sterling.

Technically speaking, several GBP currency pairs appear ripe for Sterling weakness. For example, it appears GBP/JPY is placing the finishing touches on a large upward correction that could lead to a large sell off. Additionally, there are Elliott wave patterns that would fit into a round of GBP selling in GBP/USD, GBP/NZD, and EUR/GBP. Therefore, we may see broad based Sterling weakness. Using Sterling as the funding currency for Gold longs appears to have a higher probability outcome as we look to strip out the effect of the US Dollar.Specifically, looking at the technical chart of Gold priced in Sterling (XAU/GBP), it appears we are in the ‘c’ wave of an a-b-c upward move. If indeed this is the wave count, XAU/GBP could rise towards 850-900.

Should you decide to position in Gold or other markets, the risk to reward ratio is paramount. We’ve researched millions of trades and found that this one little tweak on risk to reward ratios increased the pool of traders who were profitable from 17% to 53%. Learn more about that tweak in pages 7-9 of the Traits of Successful Traders Guide [free registration].

Trading Opportunities of 2016: More Than Irish Look for the Pot of Gold

See the next Top Trade Opportunities in 2016: Betting on the Curveball in Gold

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

DISCLOSURES