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
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
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
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
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 Dow Jones could fall based on positioning signals, will the growth-linked Australian Dollar and Canadian Dollar follow? If so, what are the technical barriers ahead? Find out from @ddubrovskyFX here:https://t.co/yJrlR5C00P https://t.co/3yPoDUHnfG
  • #Singapore GDP shrinks most on record as city-state enters a recession #SGD falls, #USD gains #StraitsTimes eyeing support What is the road ahead for $USD/SGD? - https://www.dailyfx.com/forex/market_alert/2020/07/14/US-Dollar-USDSGD-Gain-Singapore-Enters-Recession-on-Record-GDP-Drop.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/HvcLpEh6NG
  • Join @DanielGMoss's #Webinar at 10:00 PM ET/2:00 AM GMT for his weekly coverage of trading prep for $AUDUSD in the week ahead. Register here: https://t.co/wi1qabrtHJ https://t.co/13qB60OlJV
  • Further gains in USD/IDR could be curbed as USD/PHP establishes a floor around 2017 lows. USD/MYR may fall next as USD/SGD fast approaches a key falling trend line.Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/9JgZm2n8Fl https://t.co/KqeCR8z3Du
  • RT @Reuters: U.S. Senate to begin debate on new coronavirus bill next week: McConnell https://t.co/qPKEV0fLa9 https://t.co/O33B0ITYaa
  • If you issued your own bond as a person (let's say 10y) how high do you think your yield would be?
  • Market snapshot: US equity futures up, #AUD, #NZD down.
  • Singapore Dollar cautiously weakens against the US Dollar following disappointing #Singapore GDP data $USDSGD #SGD https://t.co/7mRV62n82s
  • WOW Singapore Q2 GDP -41.2% on QoQ on an annualized basis. Est: -35.9% - BBG
  • This Singaporean GDP reading for the second quarter does not bode well for the 'rest of world' figures due over the next few weeks. I would not be surprised if China simply 'weathered' this global impact with Thursday's release... https://t.co/HiflgPvptk
Dow Jones, DAX & Commodity Technical Outlook | Video

Dow Jones, DAX & Commodity Technical Outlook | Video

2019-11-20 13:00:00
Paul Robinson, Strategist
Share:

The Dow Jones had a hint of weakness yesterday, but nothing too pervasive as the trend continues to be quite strong. Even as such, though, there is room for a decline as the market is a bit extended right now. There is a steep trend-line rising up from the October low, but may not be sufficient to keep price supported.

The top-side trend-line from January 2018 is the targeted objective on weakness, and depending on how price action plays out it could be a spot for dip-buyers. A gradual pullback will be viewed as bullish, needing a strong move lower to rev up the motor for shorts.

Dow Jones Daily Chart (on a pullback watch 2018 t-line as support)

Dow Jones, DAX & Commodity Technical Outlook | Video

Dow Jones Chart by TradingView

Yesterday, the DAX was trading above a high and tight consolidation pattern before reversing course and posting a bearish reversal that signaled a fake-out breakout. This set it up for today’s weakness which has the market below the bottom of the recent range. There is support, however, rising up via the slope off the December low. This may keep the market held up, but if it doesn’t then look for weakness to continue towards sub-13000, a gap-fill at 12961.

DAX Daily Chart (fake-out sets up weakness)

Dow Jones, DAX & Commodity Technical Outlook | Video

DAX Chart by TradingView

Crude oil took a bit of hit yesterday, which has price sitting on a minor level of support. A breakdown could have the US & UK contracts reeling towards support levels from the months before. For more in-depth commentary check out this morning’s piece – Crude Oil Price Outlook: Bears Show Teeth, Technical Break Near Confirmation.

Gold is coming off support under 1450, but not doing so with a whole lot of strength yet. This could set it up for another round of selling soon towards the lower parallel of a bull-flag that has been building since topping in September at key levels from the 2011/12 topping process.

For the full set of technical details and charts, check out the video above…

Resources for Index & Commodity Traders

Whether you are a new or an experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, and trading guides to help you improve trading performance.

We also have a series of guides for those looking to trade specific markets, such as the S&P 500, Dow, DAX, gold, silver, crude oil, and copper.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES

News & Analysis at your fingertips.