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
Oil - US Crude
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
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
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
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
  • What's the difference between leading and lagging indicators? Find out from @RichardSnowFX here:https://t.co/vGx8HCagF5 https://t.co/j8PEFYbEqr
  • The $USD fell as an improvement in sentiment slowed aggressive capital outflows from emerging markets and #ASEAN economies. What do USD/SGD, USD/MYR, USD/IDR and USD/PHP face next? Find out from @ddubrovskyFX here: https://t.co/3SQYf5Y0Vx https://t.co/lodbsqO94L
  • The $USD may return to the offensive as markets flee to cash amid fears of deep global recession thanks to the still-raging #coronavirus outbreak. Get your US Dollar update from @IlyaSpivak here: https://t.co/g1us4ZbYR5 https://t.co/detT6m6ZKo
  • The #Dow Jones, S&P 500 and #DAX 30 have bounced after aggressive declines. Can this momentum last? Trader positioning seems to be offering mixed signals as technicals point bearish. Get your market update from @ddubrovskyFX here:https://t.co/DdCUyoGSmL https://t.co/NQtbwy5Brg
  • Reports that London-based fund managers have discussed long market closures with the Bank of England are unlikely to bear fruit, but that they happened at all may boost already-crowded haven trades. Get your EUR/CHF market update from @DavidCottleFX here:https://t.co/mernf5MDH3 https://t.co/1rzQT6ClCY
  • $AUD chart positioning suggests prices have set a swing top near the 0.62 figure. Re-engaging the long-term downtrend against $USD may follow. Get your AUD/USD market update from @IlyaSpivak here:https://t.co/OIEDlId6HZ https://t.co/CzqJf3wsgh
  • The $USD could be on the verge of regaining upside momentum against ASEAN FX such as the Singapore Dollar, Indonesian Rupiah and Malaysian Ringgit. Will the Philippine Peso follow? Find out from @ddubrovskyFX here:https://t.co/cBzPejcNHu https://t.co/4fcImOiSzD
  • $NZD chart positioning suggests the downtrend against its US namesake may be resuming but trader sentiment studies flash warning sign for sellers.Get your NZD/USD market update from @IlyaSpivak here:https://t.co/NUHD43A8C9 https://t.co/K7l3Ju0GP0
  • The Federal Reserve has made a powerful statement about its commitment to shoring up offshore $USD funding markets through the #coronavirus spread. Get your market update from @DavidCottleFX here:https://t.co/fLZjxjr4L9 https://t.co/UdRor0d92U
  • The #Euro has dropped through support guiding it higher from late-March lows, suggesting that the end of a corrective rebound has given way to downtrend resumption. Get your $EURUSD market update from @IlyaSpivak here: https://t.co/gpKowYNmGi https://t.co/CY7RuZf91s
Dow Jones, Crude Oil, Gold Price & More in Risk-off Mode

Dow Jones, Crude Oil, Gold Price & More in Risk-off Mode

2020-02-26 12:30:00
Paul Robinson, Strategist
Share:

The US stock market is finally reacting to the coronavirus situation as it becomes more acute. Up until the past few days US indices remained suspended in record territory, but that is changing now with long-term trend support via the 200-day MAs coming under fire. The Dow Jones is already below the threshold (27230 on cash index), while the S&P is another down-day away (3044 on cash index).

For the Dow there is also trend-line support from June to watch around the 200-day, we may see a day this week result into a volatile turnabout as often times happens upon the first test of major long-term support. Trying to catch a bounce isn’t for the faint of heart. Shorts, however, at this juncture do appear to be at high risk of a sharp snapback.

Equities Forecast
Equities Forecast
Recommended by Paul Robinson
Check out the Q1 Stock Market Forecast for Our Insights.
Get My Guide

Dow Jones Daily Chart (around significant support)

Dow Jones daily chart

Dow Jones Chart by TradingView

Crude oil is rolling over again following a temporary reprieve. The trend-line from 2016 is getting tested at the moment and could mark an important event. A hold keeps a floor in oil for now, but a breakdown could spell trouble as the next significant level of support isn’t until the December low at 42.20. If we have indeed hit a bit of a panic-point with equities, then look for oil to hold support.

Oil Forecast
Oil Forecast
Recommended by Paul Robinson
See what our analysts are watching in Crude Oil.
Get My Guide

Crude Oil Daily Chart (trading at 2016 trend-line)

Crude oil daily chart

Crude Oil Chart by TradingView

Gold was ramping up on haven flows, but has run out of steam the past couple of days. If we see even a minor bounce in the risk-trade, then look for gold to trade off as fear abates. Overall, though, gold is still sitting bullish in the big-picture. There may be an upper hand here soon for short-term, nimble traders to establish shorts, but broadly the bias is towards weakness becoming buying opportunities.

Gold Forecast
Gold Forecast
Recommended by Paul Robinson
Do you trade gold? Check out our forecast.
Get My Guide

Gold Daily Chart (may retreat a bit)

Gold daily chart

Gold 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

News & Analysis at your fingertips.