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.

Free Trading Guides
EUR/USD
Bearish
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
Oil - US Crude
Mixed
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
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
GBP/USD
Mixed
USD/JPY
Bearish
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
More View more
Real Time News
  • The British Pound technical outlook still seems to favor the downside. GBP/CAD may pressure key rising support from August as GBP/AUD could prolong its downtrend. GBP/CHF may fall. Get your $GBP market update from @ddubrovskyFX here: https://t.co/hBOpDKXmfW https://t.co/8gGfGuw87o
  • The $USD breakdown has taken the index into confluence support at the objective yearly open. Get your USD technical analysis from @MBForex here: https://t.co/A16XEv6n4d https://t.co/VFxFMFWJ5L
  • Texas virus cases increase 2.4%, above 7-day average of 2.3% - BBG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.68% 🇨🇦CAD: 0.58% 🇬🇧GBP: 0.56% 🇪🇺EUR: -0.40% 🇯🇵JPY: -0.41% 🇨🇭CHF: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/KqzhTKmnaK
  • The divergence between weekly gains in the #Fed balance sheet and with the #SP500 continues to grow https://t.co/A7HQRtukwj
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -1.11% Silver: -1.74% Gold: -1.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/oiiAzDSusO
  • The animal spirits were boisterous today as a blowout jobs report defied expectations of continued economic pain and malaise in the United States. Get your #Nasdaq technical analysis from @JStanleyFX here: https://t.co/1LI54uvI8x https://t.co/1JydMIGLWz
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.09%, while traders in US 500 are at opposite extremes with 75.23%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/NqGfEOph43
  • S&P 500 Surges as VIX 'Fear-Gauge' Implodes Post-Jobs Report (via @DailyFX) $ES_F $SPX $SPY $VIX #Stocks #StockMarket #Trading #Analysis #Volatility #NFP https://t.co/laVWdqMgDG
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.05% US 500: 0.03% FTSE 100: -0.48% France 40: -0.51% Germany 30: -0.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/k8WwORiUth
GBP/USD Close Above 1.5000 to Generate Larger Rebound on Hawkish BoE

GBP/USD Close Above 1.5000 to Generate Larger Rebound on Hawkish BoE

2015-04-22 16:15:00
David Song, Strategist
Share:

Talking Points:

- GBP/USD Climbs to Fresh Monthly High on Hawkish Bank of England (BoE) Minutes.

- AUD/USD Holds April High (0.7841) Despite Stronger-Than-Expected Australia Core CPI.

- USDOLLAR Remains at Risk as Fed Liftoff Remains ‘Uncertain.’

For more updates, sign up for David's e-mail distribution list.

GBP/USD

GBP/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • GBP/USD marks fresh monthly high (1.5078) as Bank of England (BoE) warns of faster inflation on the back of the depreciation in the exchange rate & warns interest rate expectations are ‘exceptionally flat.’
  • Despite the unanimous vote, BoE may show a greater willingness to normalize monetary policy following the May 7 election amid the uncertainty surrounding the fiscal outlook; close above 1.5000-15 (50% expansion) raises the risk for a larger correction in GBP/USD.
  • Seeing increased volatility in the DailyFX Speculative Sentiment Index (SSI) following the BoE Minutes as retail crowd flips net-short GBP/USD, with ratio currently holding at -1.13.

AUD/USD

AUD/USD Daily Chart
  • Lack of momentum to test the April high (0.7841) following the stronger-than-expected print for Australia’s core Consumer Price Index (CPI) may generate range-bound prices in AUD/USD.
  • Need a close above 0.7820 (38.2% retracement) to 0.7860 (61.8% expansion) to favor a further advance in the aussie, but the pair may continue to consolidate ahead of the Reserve Bank of Australia’s (RBA) May 5 policy meeting amid speculation for a rate cut.
  • Close below 0.7570 (50% expansion) to 0.7590 (100% expansion) along with a break of the bullish RSI momentum to favor a resumption of the long-term bearish trend.

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Price & Time: USD Vulnerable?

GBPCAD Testing Slope Resistance- Long Scalps at Risk Sub 1.84

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11996.59

12024.88

11958.09

-0.17

95.42%

GBP/USD Close Above 1.5000 to Generate Larger Rebound on Hawkish BoEUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar may continue to face range bound prices ahead of the U.S. Durable Goods report amid the ongoing closes above 11,951 (38.2% expansion) to 11,952 (50-Day SMA).
  • Despite the better-than-expected housing data prints from earlier this morning, the minor improvements may not be enough to generate a majority vote for a Fed rate hike in June.
  • Downside risk remains as the RSI retains the bearish momentum, with key support standing around 11,869 (23.6% expansion) to 11,901 (78.6% expansion).

Release

GMT

Expected

Actual

MBA Mortgage Applications (APR 17)

11:00

--

2.3%

FHFA House Price Index (MoM) (FEB)

13:00

0.5%

0.7%

Existing Home Sales (MAR)

14:00

5.03M

5.19M

Existing Home Sales (MoM) (MAR)

14:00

3.1%

6.1%

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. 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.

DISCLOSURES

News & Analysis at your fingertips.