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
Bearish
Oil - US Crude
Bullish
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
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
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/0rNbbrd58e
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/zPzJAxBJxt
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/uf6KEYTes5
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/gRjdVfbg66
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/SQUCCYRCIk https://t.co/mLLGqYUygY
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/HUYJzEkYiT
  • #Gold prices put in a major breakout last month and, so far, buyers have held the line. But a really big Fed meeting is on the calendar for this week. Can Gold bulls hold? Get your market update from @JStanleyFX here: https://t.co/NGRTSfceOW https://t.co/QkSUORIQE2
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/PHK2sqB1jV
  • Top event risk for more than just the Dow and Dollar this week is the Wednesday #FOMC rate decision. What the markets expect sets the tone for how the event impacts price action. My run down of the week and Fed decision: https://www.dailyfx.com/forex/video/daily_news_report/2021/06/12/Dollar-and-SP-500-Breaks-Must-Abide-the-FOMC-Decision-This-Week.html https://t.co/Huvth4f706
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/AkE7bFRWAt
Commodity Currencies Plunge Overnight against Dollar

Commodity Currencies Plunge Overnight against Dollar

Jamie Saettele, CMT, Sr. Technical Strategist

FXCM Expo Videos

Innovative Techniques with Traditional Technical Indicators

Trading with the Elliott Wave Principle

Seeing the Forest from the Trees: An Analysis of Global Markets

Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

Morning Notes:

EURUSD – “The specter of 5 waves up from 13002 warns of a deeper corrective decline into 13120/40 before resumption of the bull trend.” The correction appears to be playing out. Watch the mentioned levels (13120/40) as the week progresses. 13210/25 is resistance.

Commodity_Currencies_Plunge_Overnight_against_Dollar_body_eurusd.png, Commodity Currencies Plunge Overnight against Dollar

Prepared by Jamie Saettele, CMT

GBPUSD – “Near term weakness would present an opportunity to get long. Support for Tuesday is 15860 and15820.” The GBPUSD is off of its best levels and nearing expected support at 15820. Watch for support from the Elliott channel (as it is drawn below) as well. Any risk on longs should be under 15740.

Commodity_Currencies_Plunge_Overnight_against_Dollar_body_gbpusd.png, Commodity Currencies Plunge Overnight against Dollar

Prepared by Jamie Saettele, CMT

AUDUSD – The AUDUSD has plunged overnight and already retraced more than 61.8% of its advance from last week’s low (10422), which needs to hold in order for the larger bullish bias to remain favored. A drop below 10422 would shift focus to 10250 (Fibonacci extension). 10510 and 10540 are resistance levels today.

Commodity_Currencies_Plunge_Overnight_against_Dollar_body_audusd.png, Commodity Currencies Plunge Overnight against Dollar

Prepared by Jamie Saettele, CMT

NZDUSD – The NZDUSD has plunged overnight and nearly retraced 61.8% (8147) of its advance from last week’s low (8060), which needs to hold in order for the larger bullish bias to remain favored. A drop below 8060 would shift focus to 7880 (Fibonacci extension and December high). 8195 is resistance today.

USDJPY –No change – “Focus for the month remains 8550, which is defined by the 2011 high and confluence of Fibonacci extensions (100% extension of 7602-8162 / 8001 and 261.8% extension of 8001-8187 / 8058). Bulls are favored against the 3/13 low of 8195. In fact, a small correction may be complete from the 3/15 high.” Move risk on longs to 8300.

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com

Jamie is the author of Sentiment in the Forex Market.

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

DISCLOSURES