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.



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
More View more
Real Time News
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • Short-term uncertainties to keep the pressure on equity markets. Get your weekly equities forecast from @JMcQueenFX here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here:
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here:
USD/CHF, USD/JPY Outlooks Remain Bullish as US Yields Stay Elevated

USD/CHF, USD/JPY Outlooks Remain Bullish as US Yields Stay Elevated

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- US Treasury yields have broken out to multi-month highs: the 2-year is at its highest level of the year; and the 10-year is at its highest level in two-months.

- EUR/USD break back above 1.1820/25 threatens to invalidate the near-term head & shoulders topping pattern.

- Retail trader sentiment has seemingly turned the corner across most USD-pairs.

Upcoming Webinars for Week of October 1 to October 6, 2017

Monday at 7:30 EDT/11:30 GMT: FX Week Ahead

Wednesday at 6:00 EDT/10:00 GMT: Mid-Week Trading Q&A

Thursday at 7:30 EDT/11:30 GMT: Central Bank Weekly

See the full DailyFX Webinar Calendar for other upcoming strategy sessions

The second down day in a row for the US Dollar comes as the DXY Index has run into a defining level for 2017, the descending trendline from the April and May swing highs. Despite this, the US Dollar is on track for its best week of the year, which given how late in the year it is, speaks to the poor performance by the greenback through the first three quarters.

The pullback in DXY Index appears to be largely driven by EUR/USD, which has responded positively to former resistance turned support around 1.1715. Since the break above 1.1715 at the end of July, EUR/USD has been treating this level as support. A break below here would suggest increased validity for the EUR/USD head & shoulders target of 1.1554. On the contrary, a further push higher through 1.1820/25, the neckline of the head & shoulders pattern, may invalidate the near-term bearish outlook.

The best place right now to look for US Dollar strength are against the low yielding, safe haven currencies: the Japanese Yen and the Swiss franc. Both USD/CHF and USD/JPY have showed heightened sensitivty to US Treasury yield moves throughout September, with both pairs bottoming within a day of the US Treasury 10-year yield hitting its low this month.

USD/CHF's rally has paused in the 0.9730/70 area, where the range top from May and the declining trendline from the December 2016, March 2017, and April 2017 highs converge. Yet like USD/JPY, USD/CHF is finding support on the daily 8-, 13- 21-EMA envelope; bullish momentum remains strong. Now that the US Treasury 2-year yield is at its highest level of the year, and the US Treasury 10-year yield is at its highest level in two-months, both USD/CHF's and USD/JPY's pullbacks should be well-contained.

See the above video for a technical review of the DXY Index, EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF, Gold, and US yields.

Read more: DXY Index at Resistance as Key USD-pairs Pause

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

To contact Christopher Vecchio, e-mail

Follow him on Twitter at @CVecchioFX

To be added to Christopher's e-mail distribution list, please fill out this form

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