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  • No matter where you look, the Euro is under a great deal of technical pressure: versus the commodity currencies (EUR/AUD, EUR/CAD, EUR/NZD) or even against the Nordic currencies (EUR/NOK, EUR/SEK). Get your market update from @CVecchioFX here: https://t.co/UJvFdVbrk6 https://t.co/lJGEuR5TIE
  • RT @FxWestwater: $AUDUSD Aims to Retake Key Level as Markets Digest US Covid Stimulus News Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/03/08/AUDUSD-Aims-to-Retake-Key-Level-as-Markets-Digest-US-Covid-Stimulus-News.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/eYwb…
  • This seems likely to reflect the near-certain passing of the US$1.9 trillion stimulus top-up in the US https://t.co/lmIuNpLmV6
  • Risk-on tone seemingly prevailing in early Asia-Pacific trade. US stock index futures up with commodity currencies (AUD, CAD, NZD, NOK), crude oil, gold. Anti-risk USD, JPY and CHF down. https://t.co/nJgxWHCGCa
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/brgbPlNTIl
  • WTI crude oil prices surpassed the 200% Fibonacci extension level of US$ 66.65 after Saudi Arabia said a storage tank in the Ras Tanura export terminal was attached by a drone on Sunday. Brent price breached US$ 70 mark for the first time since January 2020. https://t.co/hB39eHZLVw
  • Crude oil will likely extend its bull run after one of the most protected oil facilities in the world came under attack on Sunday - BBG
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX - https://t.co/lxd5fZnn4H Mid-Week Market Check Up with IG on Wednesday at 9:30am EST - https://t.co/8SFBJxNZrA
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/6BhlgjWVYw
  • We are going to start the new trading week with a few critical technical breaks like the $QQQ's (NDX) H&S neckline break on volume and EURUSD's clearance below 1.1950. Are these the makings of trends? My take: https://www.dailyfx.com/forex/video/daily_news_report/2021/03/06/EURUSD-and-Nasdaq-100-to-Start-Week-with-Multi-Month-Breakdown.html https://t.co/iR5w7iDkDU
Weekly Technical Forecast: Dollar Breakouts Fall Apart While Equities and Oil Rallies Stumble

Weekly Technical Forecast: Dollar Breakouts Fall Apart While Equities and Oil Rallies Stumble

Despite what implied volatility readings suggest, markets are showing greater volatility in actual price action. From the tentative turns in the Dow and crude oil to the persistent waves of nausea in FX activity levels, traders should remain vigilant and question the heft of nearby technical boundaries.

Australian Dollar Forecast: AUDUSD Rebound Stalls Post-Fed

Aussie is poised to post a weekly doji just above yearly open support. These are the key targets and invalidations levels that matter on the AUD/USD weekly chart.

Oil Forecast: Evening Star Prints as $60 Breakout Fails

The bullish 2019 trend in Oil prices finally found some resistance this week at the $60-handle, at which point a bearish formation printed. But will buyers completely step back ahead of the Q2 open?

British Pound Forecast: British Pound Volatility Continues and a Break Is Inevitable

The Pound exhibited extraordinary volatility these past weeks as the markets chewed over Brexit uncertainties. As uncertainty prevails, a breakout will be tough to secure; but exceptional volatility will eventually lead to a break.

US Dollar Forecast: Is FOMC Scared of a Stronger DXY? Apparently So, As They Should

Unfortunately, the Federal Reserve does not speak in a vacuum. Despite their desire for a weaker US Dollar, the rest of the world seems to see US assets (and thereby) the US Dollar as a likely haven from global weakness, which could potentially frustrate the Fed’s plans.

Gold Forecast: Gold Chart Shows Prices Flirting with $1,300 Again After Anti-Risk Bid

Gold is trading higher within a channel which keeps short-term momentum edging upward, but a breakdown may soon usher in sellers.

Euro Forecast: EURUSD Rejected by 200-DMA Again

A mid-week rally in EURUSD, on the back of a short-lived US dollar sell-off, was quickly re-traced with the path of least resistance for the pair likely lower in the short-term.

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

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