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
Wall Street
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
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Chinese property development company Sinic Holdings (2103) - Down 87%...@DailyFXTeam #contagion #Evergrande
  • 🇪🇸 Balance of Trade (JUL) Actual: €-1.60B Previous: €-0.98B
  • Heads Up:🇪🇸 Balance of Trade (JUL) due at 08:00 GMT (15min) Previous: €-0.98B
  • Fitch on China Property Developers - View will turn negative if sales in H2 21 fall below that achieved in H2 19 and/or if sharp fall follows through to H1 22 - Government policies in sector remain tight and show no sign of imminent loosening
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • (USD Weekly Tech) US Dollar Dominant Uptrend Back In Focus: EUR/USD, USD/JPY, NZD/USD, USD/CHF
  • What is your forex trading style? Take the quiz and find out:
  • Join @IlyaSpivak at 22:00 EST/2:00 GMT for his cross-market weekly outlook webinar. Register here:
DXY Index Threatening to Break Three-Week Range, Two-Month Uptrend

DXY Index Threatening to Break Three-Week Range, Two-Month Uptrend

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- Trading below 94.29, the DXY Index is threatening to break its sideways range since October 26 and its uptrend from the September 8, 20, and October 13 lows.

- With Fed funds pricing in a 100% chance of a hike in December, progress of tax reform legislation is the key driver for the US Dollar.

- Retail trader sentiment had previously shifted to a neutral USD outlook, suggesting that a turn may be coming.

Upcoming Webinars for Week of November 12 to 17, 2017

Wednesday at 6:00 EST/11:00 GMT: Mid-Week Trading Q&A

Wednesday at 8:15 EST/13:15 GMT: Live Event Coverage: US Advance Retail Sales and CPI (OCT)

Thursday at 7:30 EST/12:30 GMT: Central Bank Weekly

See the full DailyFX Webinar Calendar for other upcoming strategy sessions

Ever since October 26, when Fed funds futures first fully priced-in a 100% chance of a 25-bps rate hike in December, the US Dollar (via DXY Index) has been trading sideways. With monetary policy essentially removed as a near-term catalyst, the main driver for the US Dollar has come from the fiscal side: the progress of tax reform legislation.

While the US economic calendar has some important data in the days ahead, the mere fact that Fed funds are locked in at 100% for December means the upcoming data won't carry the same weight it normally does. This has created a bit of asymmetric risk for the greenback: good news is fully priced-in; bad news is not.

Concurrently, this means that even a little bit of positivity from one of its currency counterparts could leave a sizeable impact. Such is the case today where, in aggregate, a lack of progress on US tax reform, more risk aversion globally, and a bout of better than expected Euro-Zone economic data have easily knocked the US Dollar back.

Chart 1: DXY Index Daily Timeframe (July to November 2017)

DXY Index Threatening to Break Three-Week Range, Two-Month Uptrend

As such, the US Dollar is looking increasingly vulnerable in the near-term, with not only the two-week range from October 26 threatening to break, but the uptrend from the September 8, 20, and October 13 lows coming under pressure as well. The neckline of what could be viewed as a potential inverse head & shoulders pattern at 94.29 is also being tested today. Momentum has started to swing lower as well, with the DXY Index trading below its daily 8-, 13-, and 21-EMAs, and MACD and Stochastics trending lower (albeit in bullish territory still).

Read more: FX Markets Volatility Set to Rise with Busy Calendar: UK, US, & Canadian Inflation Due

--- 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.