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.



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
Oil - US Crude
Wall Street
More View more
Real Time News
  • U.S. State Department lowers U.K. travel advisory to level 3 - BBG $GBPUSD
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
  • So, is Ethereum considered a 'value' market to new Dogecoin traders?
  • ...but before you write off H&S patterns because more have fallen apart rather than catalyzed lately, consider the monthly chart of $AUDUSD as well. That 0.8000-0.7925 zone is no joke as its historical midpoint, trendine and other technical points confluence
  • While there are other Dollar pairs getting more attention lately, I think $AUDUSD deserve a spot in the rotation. It's currently working out whether it is going to abide 2021's range as a consolidation reversal risk (H&S pattern)...
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.31% Oil - US Crude: -0.18% Silver: -0.50% View the performance of all markets via
  • Fed's Evans: - Tepid April jobs report was a 'head scratcher' - Welcomes wage growth as sign of a healthy jobs market - Fed has room to overshoot inflation target - 'It will be a while' before US has made enough progress to talk about tapering
  • US 10-Year Treasury yield extending to session highs and steering the Nasdaq to new lows of the day $NDX $QQQ $NQ_F
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.77%, while traders in Wall Street are at opposite extremes with 78.12%. See the summary chart below and full details and charts on DailyFX:
  • The price of gold extends the series of higher highs and lows from the previous week even though the 10-Year US Treasury yield retraces the decline following the US Non-Farm Payrolls (NFP) report. Get your $XAUUSD market update from @DavidJSong here:
USD Traders to Focus on Fed Shuffle- GBP Targets 1.6500+

USD Traders to Focus on Fed Shuffle- GBP Targets 1.6500+

David Song, Strategist

Talking Points:

- USDOLLAR Holds Gain Despite Mixed Jobless Claims Report

- British Pound Continues to Buck Trend; Eyes 1.6500





Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index







Forex_USD_Traders_to_Focus_on_Fed_Shuffle-_GBP_Targets_1.6500_body_Picture_3.png, USD Traders to Focus on Fed Shuffle- GBP Targets 1.6500+

Chart - Created Using FXCM Marketscope 2.0

  • Remains in Bottoming Process- Bullish Above 10,657 (61.8 expansion)
  • Relative Strength Index to Provide Confirmation/Conviction
  • Interim Resistance: 10,753 (23.6 expansion) to 10,759 (61.8 retracement)
  • Interim Support: 10,657 (61.8 extension)- Closing Basis





Initial Jobless Claims (DEC 21)




Continuing Claims (DEC 13)




The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) continued to pare the decline from 10,727 despite the mixed Jobless Claims print, and the greenback may track higher over the remainder of the year amid the shift in the Fed’s policy outlook.

With Janet Yellen’s confirmation hearing quickly approaching (January 6), the composition of the 2014 Federal Open Market Committee (FOMC) will be a large focus as a handful of Fed Governors (Sarah Bloom Raskin, Jeremy Stein, and Jerome Powell) are expected to depart next year, and the shuffle may limit the scope of seeing another taper at the January 29 meeting as the board implements a more dovish twist on its forward-guidance.

Nevertheless, we will maintain a bullish outlook for the USDOLLAR as it continues to carve a higher low above 10,657 (61.8 percent Fibonacci expansion), but greenback may face produce choppy to whipsaw-like price action over the remainder of the month as market participation remains thin.

Join DailyFX on Demandto Cover Current U.S. Dollar Trade Setups

Forex_USD_Traders_to_Focus_on_Fed_Shuffle-_GBP_Targets_1.6500_body_ScreenShot167.png, USD Traders to Focus on Fed Shuffle- GBP Targets 1.6500+


Forex_USD_Traders_to_Focus_on_Fed_Shuffle-_GBP_Targets_1.6500_body_Picture_1.png, USD Traders to Focus on Fed Shuffle- GBP Targets 1.6500+
  • Breaks Out of Narrow Range; Eyes 1.6500+ After Carving Higher Low
  • Interim Resistance: 1.6500 Pivot to 1.6540 (78.6 expansion)
  • Interim Support: 1.6200 (23.6 retracement) to 1.6250 Pivot

The greenback rallied against two of the four components, led by a 0.45 percent decline in the Australian dollar, while the British Pound continued to buck the trend, with the GBPUSD breaking out of the narrow range from the holiday trade.

The technical outlook continues to favor the topside targets for the sterling as the pair comes off of trendline support, and it seems as though it will only be a matter of time before the pound-dollar clears the 1.6500 handle amid the bullish break in the Relative Strength Index (RSI).

As a result, we will continue to implement a ‘buy the dip’ strategy for the GBPUSD, and the bullish sentiment surrounding the sterling should gather pace next year as the Bank of England (BoE) looks to normalize monetary policy ahead of schedule.

--- Written by David Song, Currency Analyst

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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