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.

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
Bullish
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
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Crude Oil Forecast: Oil Prices Edge Lower Toward Trend Support -via @DailyFX WTI #CrudeOil closed the week slightly higher on balance, but the commodity is struggling at resistance as bears look to challenge trend support. Link to Full Analysis: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/05/08/crude-oil-forecast-oil-prices-edge-lower-toward-trend-support.html #OOTT https://t.co/MvtP36QxY8
  • 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/3f5sLijsVB
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/PO93mIKAZP
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/CHE6IOq3K5
  • 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/Agl1q6EQyu
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/UmubxiDXGc
  • 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/e4G1gTGhex
  • 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/pS48NIuwqX
  • 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/gFVVZTGbe1
  • 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/nHXiNJhLes
Silver to Gold Ratio Rally Not Just a Flash in the Pan

Silver to Gold Ratio Rally Not Just a Flash in the Pan

Jamie Saettele, CMT, Sr. Technical Strategist
  • GBP/USD to 1.2700?
  • Major juncture for NZD/USD trend
  • Silver/gold ratio

--Subscribe to Jamie Saettele's distribution list in order to receive a free report to your inbox several times a week.

--For more analysis and trade setups (including current positions and the ‘watchlist’), visit SB Trade Desk

--Free trading tips

EUR/USD

Weekly

Silver to Gold Ratio Rally Not Just a Flash in the Pan

Chart Prepared by Jamie Saettele, CMT

See REAL TIME trader positioning

High Frequency Trading Tools

-FXTW wrote in early May that “EUR/USD broke through (resistance) on an intraweek basis but finished the week with a long upper wick that warns of a ‘bull trap’. It seems right to be (long term) bullish given the 31 year trendline support but the breakout may have to wait a bit. As always, define your risk points (read more about traits of successful traders here). FXTW was also of the mind however that the May low at 1.1097 would hold…then Brexit happened. A broad view reveals that nothing has really changed however. Price is still above the long term trendline and price action since March 2015 closely resembles the early 2000s bottoming process.

-For forecasts and 2016 opportunities, check out the DailyFX Trading Guides.

GBP/USD

Monthly

Silver to Gold Ratio Rally Not Just a Flash in the Pan

Chart Prepared by Jamie Saettele, CMT

See REAL TIME trader positioning

-The last update noted that “in the run-up to the BREXIT vote, Cable has traded in a volatile range between 2 long term parallels. A break of one of these parallel should usher in the next directional move, either to 1.27 or 1.58. Confidence in directional is low until the headline issue is resolved. Remember, there is a 96 month (8 year) cycle low count.” The issue was resolved and the market has cast its vote in favor of 1.27.

AUD/USD

Weekly

Silver to Gold Ratio Rally Not Just a Flash in the Pan

Chart Prepared by Jamie Saettele, CMT

See REAL TIME trader positioning

-There is no change to the weekly AUD/USD analysis. “AUD/USD is constructive because former support turned resistance was support again several weeks ago (from a parallel). What’s more, this week’s low registered a few ticks above the opening price for the year (we call this the ‘touch and go’ over at SB Trade Desk). The next decision point may be above .7700 (the next parallel).”

NZD/USD

Weekly

Silver to Gold Ratio Rally Not Just a Flash in the Pan

Chart Prepared by Jamie Saettele, CMT

See REAL TIME trader positioning

-The last NZD/USD weekly update noted that “the ‘general area’ of resistance probably extends a bit above .7200. Watch this video for additional details.” NZD/USD traded to .7289 in late June before declining sharply. A long term parallel and major horizontal levels (including the 1988 high) could cap the rally from August 2015 while a break above this level would be a significant development. Bottom line, the current juncture commands attention as a major decision point.

USD/JPY

Weekly

Silver to Gold Ratio Rally Not Just a Flash in the Pan

Chart Prepared by Jamie Saettele, CMT

See REAL TIME trader positioning

-USD/JPY is in freefall. FXTW thought that the low at 103.56 would prove more significant given the presence of the May 2013 high at 103.74 but also noted that “the next level of interest would not be until the 2000 and 2014 lows at 100.74-101.26.” Much to the chagrin of the technician (but not the trader…), a ‘shock’ event resulted in panic below 99! Price has stabilized in the vicinity of the noted 2000 and 2014 lows but whether or not the last week is a pause or a change in trend is unanswerable. Strength above 105.40 is needed in order to suggest that the upside is again viable. Until then, the area around 95 (next historical inflection point and 61.8% of rally from 2011) looms as a magnet.

USD/CAD

Weekly

Silver to Gold Ratio Rally Not Just a Flash in the Pan

Chart Prepared by Jamie Saettele, CMT

See REAL TIME trader positioning

-Previous comments noted that “USD/CAD has carved a bullish engulfing candle at major support. The low just made could be significant.” The bullish engulfing is still there of course but the rally has failed at the 55 week average. FXTW pays attention to this because this average was support for the last 3 years. Former support just provided resistance so USD/CAD may be transitioning to a bearish phase.

USD/CHF

Weekly

Silver to Gold Ratio Rally Not Just a Flash in the Pan

Chart Prepared by Jamie Saettele, CMT

See REAL TIME trader positioning

-FXTW was following a bullish wedge pattern from the November high. This pattern completed on 5/18. The pattern then failed on 6/6. A failed bullish pattern serves as a bearish warning. In fact, FXTW wrote recently that “a failed wedge would not be a surprise given the struggle at LONG TERM resistance since November.” Weakness below .9440 could usher in a ‘waterfall decline’.

Bonus Chart

Silver / Gold Monthly

Silver to Gold Ratio Rally Not Just a Flash in the Pan

-Bonus charts over the last 7 months have focused primarily on the return of the ‘inflation trade’. The Big Kahuna in all of this is the blow-off in bonds, which you can read about here. The turn higher in the silver/gold ratio is yet another indication that inflation trends have experienced an important shift (Market Anthropology has been addressing this issue for an extended period of time as well). Inflationary and deflationary forces are a product of the human condition and as such exhibit cycles at varying degree. In fact, the turn higher in this ratio is consistent with the length in time between previous troughs. The consistent cycle is remarkable considering that CBs have gone to great lengths to suppress natural order. Of course, to those that understand markets abide by their own natural rhythms, the cyclical reaction in this ratio is normal. Echoing Jean-Baptiste Alphonse Karr, “The more things change, the more they stay the same.”

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

DISCLOSURES