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
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
GBP/USD
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
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bullish
More View more
Real Time News
  • 🇪🇺 EUR Euro-Zone Industrial Production w.d.a. (YoY) (OCT), Actual: -2.2% Expected: -2.4% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2019-12-12
  • LIVE IN 30 MIN: Join Currency Strategist @PaulRobinsonFX as he discusses a wide range of topics with emphasis on psychology, trade execution, and risk management with the goal of helping traders improve performance. Register here: https://www.dailyfx.com/webinars/602330483?CHID=9&QPID=917720
  • Heads Up:🇪🇺 EUR Euro-Zone Industrial Production w.d.a. (YoY) (OCT) due at 10:00 GMT (15min), Actual: N/A Expected: -2.4% Previous: -1.7% https://www.dailyfx.com/economic-calendar#2019-12-12
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/10:30 AM GMT to learn about how you can become a better trader. Register here: https://t.co/WeWGKtdlyz https://t.co/sAiq2T3EAQ
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/gRUZPiE6vs
  • $GBP O/n vols highest since EU Referendum https://t.co/7DhR3jhII1
  • Have central banks run out of ammo? And where are central banks headed? Find out from Cross-asset class trader, @JohnNetto only on Trading Global Markets Decoded #podcast with @MartinSEssex here: https://t.co/Twr44cZ1GB https://t.co/A2qMIwCTU4
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.95%, while traders in US 500 are at opposite extremes with 76.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SC18bOymU6
  • 🇨🇭 CHF SNB Sight Deposit Interest Rate (DEC 12), Actual: -0.75% Expected: -0.75% Previous: -0.75% https://www.dailyfx.com/economic-calendar#2019-12-12
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.10% Silver: -0.07% Gold: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VKwOZp9GXs
Copper sees Largest Daily Range in 6 Months

Copper sees Largest Daily Range in 6 Months

2014-09-18 16:24:00
Kara Dailey, Jeremy Wagner, CEWA-M,
Share:

On Tuesday, PBOC (Peoples Bank of China) announced they are providing 500 billion yuan of liquidity to the largest banks of China. As a result, copper rose heartily on the news to reach a significant technical level.

As we can see from the chart below, there is a daily resistance line at 3.22. When the news of PBOC’s stimulus broke, the metal rose to meet this technical level.

Since then, prices have repelled which gives us a clue about the overall trend. The trend remains lower so long as prices do not break above 3.22.

For those not familiar with why China matters to copper, China is a growing economy and a growing economy will likely build new houses, apartments and offices. These buildings need copper.

Copper sees Largest Daily Range in 6 Months

Chart created by Jeremy Wagner using FXCM’s Marketscope 2.0

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

DISCLOSURES

News & Analysis at your fingertips.