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
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
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: https://t.co/Xr3xtoFpZy https://t.co/j5xDAG6LLb
  • 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: https://t.co/m920Uvmngm https://t.co/yQYtfHf66s
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/Dqq9S9vGvo
  • 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: https://t.co/rz7fqhRoMG https://t.co/lccPTTlvj0
  • 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: https://t.co/WIKdSesfkJ https://t.co/Fx0qr32xgI
  • 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: https://t.co/kODPAfJE79 https://t.co/IRS9MaA7h8
  • 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: https://www.dailyfx.com/forex/fundamental/forecast/weekly/CHF/2021/09/18/Gold-Price-Outlook-Hinges-on-Fed-Rate-Decision-Forward-Guidance.html https://t.co/dWWxtErjK0
  • 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: https://t.co/arxYmtQeUn https://t.co/4qxwiJsV1K
  • 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: https://t.co/CNtqrKWDBY https://t.co/stMPuq0VXR
  • 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: https://t.co/7t4BzmLg8w https://t.co/v6RGICQvge
Dr. Copper in the House?

Dr. Copper in the House?

Kristian Kerr, Sr. Currency Strategist

Price & Time covers key technical themes daily and can be delivered to your inbox each morning by joining the distribution list: Price & Time

Talking Points

  • Copper continues to flirt is important upside pivot
  • Risk rally almost over or just the beginning?

Dr. Copper in the House?

Dr. Copper in the House?

One of the most overused sayings in financial research is that “Copper has a PHD in economics”. In other words, the metal is a good bellwether for the true state of the global economy because of its widespread use. I think the advent of things like PVC has probably cut a little bit into the metal’s predictive value, but it is still a very useful market to keep tabs on (especially with central banks at war with deflation).

Looking for real-time positioning data? Find out HERE

The 18%+ rally in the metal since January has been accompanied by a more than 50% rise in the price of Brent Crude and an 11% rally in “society’s mood barometer” the S&P 500. The SPX actually managed to finish last week above its 200-day moving average so the obvious question on most technicians’ minds is whether “pro-risk” markets are starting back up for real this time or not. As positive as some of these other markets look, Copper still suggests at least some caution is required as the commodity failed earlier in the month at a confluence of the 200-day moving average, an internal trendline of the August/September lows and the top of the 1-year standard deviation channel. On the positive side, I like where the commodity found support back in January as the 1.94/1.97 area marked a nice convergence of the 78.6% retracement of the 2001 – 2011 advance and a trendline connecting the early 2000’s lows with the 2008 low on the continuous futures chart. If the market is going to mount a more serious recovery then that is probably the spot you want to see it commence from. A confirmed inverse head & shoulders on the daily and weekly charts doesn’t hurt things either, but the market has reached the point “where the rubber meets the road” in a sense as the zone between 2.26 and 2.29 is precisely where one would expect the broader downtrend to try and reassert itself. The next few days/weeks look critical in this regard, as traction over 2.29 opens the door to another important leg higher in the metal and probably in risk. A continued inability to get through there and the odds are we head back down – possibly hard. Stay tuned.

What is the #1 mistake most FX traders make? Find out HERE.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

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

DISCLOSURES