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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
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 ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • While the meetings of central bankers in the US, Japan and the UK will be front, left and center of traders’ minds this coming week, it would be wise not to ignore next Sunday’s German Federal Election. Get your euro forecast from @MartinSEssex here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
S&P 500 Dipping Into Support Zone, FOMC-risk Mode

S&P 500 Dipping Into Support Zone, FOMC-risk Mode

Paul Robinson, Strategist

What’s Inside:

  • Two-day FOMC meeting starts today, tomorrow most important
  • S&P 500 declining into support
  • Waiting for conclusion of Fed to see what moves should be made next

Today kicks off the beginning of the two-day FOMC meeting, with tomorrow holding the interest rate decision, policy statement, and Janet Yellen press conference. Rates are expected to remain unchanged, so as per usual it will be about any language changes in the policy statement and comments made by Yellen. And also as per usual no predictions will be made on this end, instead rather, we will let the market sort it out and tell us how it ‘feels’ about the outcome.

Nothing has changed from yesterday as the market is relatively quiet after last week’s fireworks ahead of this week’s event-risk. We continue to look to support in the short-term as opportunities to enter from the long-side. As discussed yesterday, old resistance becomes new support. A firm test and hold of the 1990/2010 zone in the S&P 500 could make for a potentially good entry; at the moment we are probing into that zone after touching off on minor trend-line resistance. Upward trend support off the Feb 11 low is in the vicinity as well.

As long as this range of support and 1970 below there holds, then so will the upward bias. A move below will warrant caution and potentially a flip in our view.

Similar to last week in regards to the ECB, once the FOMC meeting is out of the way we will learn more about what to do, if anything, in the very near-term.

S&P 500 Daily: Sep '15 - Present

S&P 500 Dipping Into Support Zone, FOMC-risk Mode

New to trading and want to get some pointers on what successful traders are doing? Check out this guide, it should help.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter @PaulRobinsonFX, or email him directly at

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