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
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
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
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
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 how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/rOnWgIotlz
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.11% Oil - US Crude: 0.02% Silver: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ENxA7SeIDF
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇨🇦CAD: -0.13% 🇪🇺EUR: -0.13% 🇨🇭CHF: -0.15% 🇬🇧GBP: -0.18% 🇦🇺AUD: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cmUacZR1bK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 87.12%, while traders in France 40 are at opposite extremes with 74.18%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/WKmgAjSLWR
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/3rXsyuSemd
  • Nasdaq 100 Rebounds as Tapering Fears Ease, Hang Seng and ASX 200 Climb https://www.dailyfx.com/forex/market_alert/2021/06/22/Nasdaq-100-Rebounds-as-Tapering-Fears-Ease-Hang-Seng-and-ASX-200-Climb.html https://t.co/NZxRtj3rNa
  • ANZ Bank sees New Zealand house prices increasing by 0.7% in 2022 - BBG
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/9ZUHvkEw7R
  • 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 how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/aGz502atu0
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/OibiizbywE
The Scene is Likely to Get Uglier for Global Equity Markets

The Scene is Likely to Get Uglier for Global Equity Markets

Paul Robinson, Strategist
The Scene is Likely to Get Uglier for Global Equity Markets

Talking Points:

  • FOMC raised rates as expected, S&P 500 at major test of support
  • German employment data on Thursday; DAX extremely vulnerable
  • BoE held on rates, FTSE at risk of trading sub-6700 soon

Check out our call for elevated volatility this year and what it could mean for the broader outlook of the S&P 500 in the DailyFX Top Trading Opportunities for 2018 guide.

S&P 500

The Fed raised rates by 25-bps on Wednesday, in-line with expectations. This didn’t mean there weren’t any fireworks for the market, though. The S&P 500 initially shot higher, but then sold off aggressively following. Looking ahead to next week, we have Consumer Confidence on Tuesday, Advance Goods and GDP on Wednesday, finished off by Core PCE on Thursday. The market will be closed to end the week in observance of Good Friday. For details of all over scheduled releases, check out the economic calendar.

The S&P start off the week on a sour note and tried to bounce on Wednesday, but that failure led to a big sell-off on Thursday and Friday. The market closed the week right at major confluence of support by way of the Feb 2016 trend-line and 200-day MA. A bounce may develop from this area of support, but don’t look for it to last long. On a break of support the Feb spike-low is likely to offer limited sponsorship. Overall, should support at hand fail, looking for a move to the lower parallel to develop before seeing a sharp bounce.

S&P 500: Daily

The Scene is Likely to Get Uglier for Global Equity Markets

DAX

Looking ahead to next week, the economic calendar holds one ‘high’ impact data event by way of German employment figures to be released on Thursday. Risk trends continue to be a dominant theme here for the benchmark, as Europe in general is quite weak relative to the U.S., which are now weakening as well.

The DAX finally made good on the lower-high it formed earlier in the month, selling off aggressively towards the monthly low. The bearish channel is well intact and suggests we should expect rallies to fail from here. Keep an eye on the U.S. markets as risk trends become increasingly more important to the direction of global stock markets. If risk unravels the lower-side of the channel around 11650 is likely to offer little in the way of support.

Check out this guide for 4 ideas on how to Build Confidence in Trading.

DAX: Daily

The Scene is Likely to Get Uglier for Global Equity Markets

FTSE

Last week, the BoE held on monetary policy, and the result was more volatility seen in sterling than the FTSE. However, the FTSE sank sharply as risk sentiment continues to erode across the board. Next week doesn’t bring any ‘high’ impact data events. For a list of all scheduled releases, check out the economic calendar.

The FTSE continues to lead on the downside as the weakest of the major global indices. After breaking down out of a descending wedge below 7100, sellers showed up in earnest. The August 2016 trend-line was broken, which has support below 6700 in the cross-hairs. Keep an eye on the aforementioned support in the S&P 500, as should it break then the FTSE may trade down towards 6700 quite rapidly.

FTSE: Daily

The Scene is Likely to Get Uglier for Global Equity Markets

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please SIGN UP HERE

You can follow Paul on Twitter at@PaulRobinsonFX

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

DISCLOSURES