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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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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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High
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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  • 🇨🇦 Retail Sales MoM (NOV) Actual: 1.3 Expected: 0.1% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-01-22
  • What are some factors affecting the USD this quarter? Get your free forecast here: https://t.co/7G7pWntiyY #DailyFXGuides https://t.co/QRHi5s8Vm8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in NZD/USD are at opposite extremes with 66.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fEJdLlUmtf
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.06% 🇨🇭CHF: -0.11% 🇯🇵JPY: -0.29% 🇨🇦CAD: -0.59% 🇳🇿NZD: -0.62% 🇦🇺AUD: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ab9DM9x8QV
  • Heads Up:🇨🇦 Retail Sales MoM (NOV) due at 13:30 GMT (15min) Expected: 0.1% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-01-22
  • #Gold has fallen this morning, now trading back around $1,840. The precious metal had hit its highest level since the early January selloff yesterday as it tested around $1,870. $XAU $GLD https://t.co/AP8aqLSvOs
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/CRFKPoTOdL
  • 🇲🇽 Mid-month Inflation Rate YoY (JAN) Actual: 3.33% Expected: 3.17% Previous: 3.22% https://www.dailyfx.com/economic-calendar#2021-01-22
  • 🇲🇽 Mid-month Inflation Rate YoY (JAN) Actual: 3.33 Expected: 3.17% Previous: 3.22% https://www.dailyfx.com/economic-calendar#2021-01-22
  • 🇲🇽 Mid-month Inflation Rate MoM (JAN) Actual: 0.51% Expected: 0.34% Previous: 0.34% https://www.dailyfx.com/economic-calendar#2021-01-22
S&P 500, DAX 30 and FTSE 100 Forecasts for the Week Ahead

S&P 500, DAX 30 and FTSE 100 Forecasts for the Week Ahead

Justin McQueen, Analyst
S&P 500 Price Chart

S&P 500, DAX 30, FTSE 100 Analysis and News

  • S&P 500 | Escalation in US-China Tensions Raises Macro Shock Risk
  • DAX | Investors More Bearish on Europe
  • FTSE 100 |Brexit Deadlock
Equity indicies performance

Source: DailyFX

A weak performance across global equities despite several economies beginning to reopen. Concerns over a second wave of COVID-19 cases and rising US-China tensions continue to pressure risk sentiment will continue to drive sentiment with next week being no exception. Alongside this, on the economic data front, global PMIs will be the main focal points given its timeliness and likely to dampen expectations of a “V” shaped recovery.

S&P 500, DAX 30 and FTSE 100 Forecasts for the Week Ahead

Source: DailyFX

S&P 500 | Escalation in US-China Tensions Raises Macro Shock Risk

Following the latest actions by the US to block shipments of semiconductors to Huawei from global chipmakers, we continue to monitor developments that will likely guide price action for the S&P 500. As the US Presidential election gets underway, this will a theme that carries on for the long haul. Despite the soft performance in the S&P 500 the index has remained confined to its range with 2880-2930 capping upside, while dips are supported from 2730-2750. Given the weak economic backdrop, risks remain tilted to the downside.

US 500 MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 3% -6% -3%
Weekly -13% 5% -2%
What does it mean for price action?
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S&P 500 Price Chart: Daily Time Frame

S&P 500 Price chart

Source: IG Charts

DAX | Investors More Bearish on Europe

Arguably, Eurozone PMIs may have seen the low point with the May readings expected to show a marginal uptick at best from April’s figures. Unlike its US counterparts, the DAX alongside other European indices has come under greater pressure suggesting that market participants are taking a greater bearish stance towards Europe. On the downside, 10,200 is the key level for the DAX, in which a break below opens the door to a move south of 10,000. On the upside, bounces in the DAX may well be capped at the 10,900 (50% Fibonacci retracement of coronavirus crash).

Germany 30 BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 14% -11% -2%
Weekly 17% -5% 3%
What does it mean for price action?
Get My Guide

DAX 30 Price Chart: Daily Time Frame

DAX 30 price chart

FTSE 100 |Brexit Deadlock

Another macro theme that is re-emerging is the showdown between the UK and EU as both parties look to agree on a trade deal. However, the third round of talks yielded very little progress with EU Chief Negotiator Barnier stating that the UK and EU’s trade stance is “extremely divergent”. With only one more round of talks in June (1st-5th) before the deadline of the transition period extension request (June 30th) the FTSE 100 looks set to come into the crossfires yet again.

FTSE 100 MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 2% 8% 4%
Weekly 15% -10% 5%
What does it mean for price action?
Get My Guide

FTSE 100 Price Chart: Daily Time Frame

FTSE100 price chart

Source: IG Charts

RESOURCES FOR TRADERS

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

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

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