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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:💶 Industrial Sentiment (JAN) due at 10:00 GMT (15min) Expected: -7.2 Previous: -7.2 https://www.dailyfx.com/economic-calendar#2021-01-28
  • Heads Up:💶 Consumer Confidence Final (JAN) due at 10:00 GMT (15min) Expected: -15.5 Previous: -13.9 https://www.dailyfx.com/economic-calendar#2021-01-28
  • Heads Up:💶 Economic Sentiment (JAN) due at 10:00 GMT (15min) Expected: 89.5 Previous: 90.4 https://www.dailyfx.com/economic-calendar#2021-01-28
  • Is it really a retail-driven short squeeze that's at the heart of this market rout? Let's just say I'm dubious... More here: US Dollar Aims Higher as Liquidation Sweeps Global Stock Markets - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/01/28/US-Dollar-Aims-Higher-as-Liquidation-Sweeps-Global-Stock-Markets-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #Gamestop #Dollar #StockMarket https://t.co/ngmBEYpp8p
  • Break of range support at 0.768 - 0.7640 has propelled $AUDUSD to its lowest levels since late 2020, with the RSI registering its first intraday oversold readings since October. Symmetrical Triangle measured move suggests price could be poised to challenge the 0.7500 mark https://t.co/xuuW7NFy48 https://t.co/KisfWhYKzM
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/dWaWQ0MK1V https://t.co/OoHOJCWtdl
  • 🇮🇹 Business Confidence (JAN) Actual: 95.1 Expected: 95.6 Previous: 96.0 https://www.dailyfx.com/economic-calendar#2021-01-28
  • 🇮🇹 Consumer Confidence (JAN) Actual: 100.7 Expected: 100.5 Previous: 101.1 https://www.dailyfx.com/economic-calendar#2021-01-28
  • 🇮🇹 Business Confidence (JAN) Actual: 95.1 Expected: 95.6 Previous: 95.9 https://www.dailyfx.com/economic-calendar#2021-01-28
  • 🇮🇹 Consumer Confidence (JAN) Actual: 100.7 Expected: 100.5 Previous: 102.4 https://www.dailyfx.com/economic-calendar#2021-01-28
SPX 500 Head-and-shoulders, Break or Fake?

SPX 500 Head-and-shoulders, Break or Fake?

Paul Robinson, Strategist

Talking Points:

  • SPX500 head-and-shoulders pattern receiving a lot of attention in the media
  • Being careful not to anticipate the break, a different pattern could emerge
  • IF a break occurs, last October lows likely to be tested

Currently, there are a lot of eyes on the head-and-shoulders pattern in the S&P 500, which is generally regarded as a red flag. It plays to the notion that popular opinion is generally the wrong one. This does not mean it won’t play out as ‘expected’. The textbook way to play H&S formations is to wait for a confirmed break (1975 in this case); the conservative way is to wait for a break and retest of the neckline before taking entry. Target set near October lows between 1819 & 1860. IF we do not see a break in the neckline, a triangle formation could be in development, meaning more time before a material move occurs.

SPX500 4-HR: Oct ’14 – Present

SPX 500 Head-and-shoulders, Break or Fake?

--- Written by Paul Robinson, DailyFX Research

To contact Paul, you can email him at instructor@dailyfx.com

www.dailyfx.com/forex/market_alert/2015/01/29/SPX-500-Head-and-Shoulders-Break-or-Fake.html

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

DISCLOSURES