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. See our updated Privacy Policy here.

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
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
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
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.23% Silver: -0.48% Gold: -0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/AyuswTIIqG
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.15% 🇬🇧GBP: 0.00% 🇨🇦CAD: -0.00% 🇯🇵JPY: -0.06% 🇪🇺EUR: -0.06% 🇨🇭CHF: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/PLLBgfsdSO
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 76.22%, while traders in France 40 are at opposite extremes with 86.42%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/uYbrSUoFuc
  • S&P 500, Nikkei 225 Outlook: Stocks Hit Record High as VIX Falls https://www.dailyfx.com/forex/market_alert/2021/06/14/SP-500-Nikkei-225-Outlook-Stocks-Hit-Record-High-as-VIX-Falls.html https://t.co/uJUmHoLgfL
  • Please join @IlyaSpivak at 22:00 EST/2:00 GMT for your cross-market weekly outlook webinar. Register here: https://t.co/E213bTtq5C https://t.co/0mnH4HOZU2
  • *Schedule Reminder: Weekly Strategy Webinar on Monday at 8:30am EST (12:30GMT) with DailyFX - https://t.co/lxd5fZnn4H Mid-Week Market Update on Wednesday at 9:30am EST (13:30GMT) with IG - https://t.co/8SFBJxNZrA
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/kHnKrEkI2r
  • 8 out of 11 S&P 500 sectors ended higher, with 69.5% of the index’s constituents closing in the green. Financials (+0.61%) and information technology (+0.56%) outperformed, while healthcare (-0.73%) and real estate (-0.59%) trailed behind. https://t.co/MiGE1XFknG
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/3US2UaRckO
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/z9XcfuxLOx
Nasdaq 100, DAX, Oil & More – Charts to Watch

Nasdaq 100, DAX, Oil & More – Charts to Watch

Paul Robinson, Strategist

The Nasdaq 100 continues to sit on its highs along with the other US indices, and this quite frankly makes trading difficult. With where the market currently sits and without volatility, the market appears to be too high to buy, too strong to short. It makes establishing fresh positions in either direction particularly tricky.

The thinking is that we will soon see a bit of a reversal in fortunes, but until sellers show up trying to find a top is typically a tough business. One chart we looked at today was the weekly Nasdaq 100 (log scale), where a clear bull market channel is apparent. The NDX is approaching the upper crust of the channel, and should it do so soon it might mark the top of the current rally.

Nasdaq 100 Weekly Chart (watch upper parallel)

Nasdaq 100 weekly chart, watch upper parallel

Nasdaq 100 Chart by TradingView

The DAX is traversing around the record high, with it having notched a new record intra-day today. The grind higher to a new ATH is worth watching as the US markets continue into extended territory. The lagging nature of the DAX (&CAC) could mean if the leading US indices turn down these will be quick to take a hit. The trend-line off the August low, as long as it is held, is seen as keeping the downside in check.

DAX Daily Chart (working on new highs)

DAX daily chart, working on new highs

DAX Chart by TradingView

Crude oil is teetering on support, support that could break any time now. There is confluence between the trend-line from October and the 200-day MA. A close below 57.40 is seen as having oil rolling further downhill since its earlier-month peak. Watch the 55.40/54.77-area as next up for support should we soon see a confirmed break.

Crude Oil Daily Chart (sitting on confluent support)

Crude oil daily chart, sitting on confluent support

Crude Oil Chart by TradingView

To see all the charts we looked at, 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