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
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Traders focus a lot of their energy on spotting the perfect time to enter a trade. While this is important, it is ultimately where traders choose to exit trades that will determine success. Learn about the three types of trading exit strategies here: https://t.co/muYkTNXH7s https://t.co/ZW1gp50see
  • 🇵🇭 Interest Rate Decision Actual: 2% Expected: 2% Previous: 2% https://www.dailyfx.com/economic-calendar#2021-06-24
  • 🇩🇪 Ifo Business Climate (JUN) Actual: 101.8 Expected: 100.6 Previous: 99.2 https://www.dailyfx.com/economic-calendar#2021-06-24
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.64%, while traders in GBP/JPY are at opposite extremes with 75.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/N26m07YWxC
  • Heads Up:🇵🇭 Interest Rate Decision due at 08:00 GMT (15min) Expected: 2% Previous: 2% https://www.dailyfx.com/economic-calendar#2021-06-24
  • Heads Up:🇩🇪 Ifo Business Climate (JUN) due at 08:00 GMT (15min) Expected: 100.6 Previous: 99.2 https://www.dailyfx.com/economic-calendar#2021-06-24
  • Heads Up:🇪🇺 European Council Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-24
  • Heads Up:💶 ECB General Council Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-24
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.48% Silver: 0.09% Gold: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/RXJn9uLVkx
  • 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/6NLFoLgfs0
S&P 500, DAX & FTSE Technical Outlook for Week Ahead

S&P 500, DAX & FTSE Technical Outlook for Week Ahead

Paul Robinson, Strategist

Equity Indices Technical Outlook:

  • S&P 500 pulling hard off top-side resistance line
  • DAX breached December 2019 trend-line
  • FTSE 100 wrecked bull-flag breakout

For the intermediate-term fundamental and technical outlook, check out the Q3 Equity Forecast.

S&P 500 pulling hard off top-side resistance line

The S&P 500 was bumping its head up against the top-side trend-line running over from January 2018, a trend-line that also makes up the upper portion of a large, potentially very bearish topping pattern. With that in mind, the turn down was not totally out of the blue.

As we head into next week the market is already becoming a bit downside extended in the short-term, but still not yet at support levels warranting a bounce. The trend-line from December could get tested early next week and may provide a lift. How that lift plays out will be critical as downward momentum currently suggests we could see an extended slide, perhaps down to the 200-day in the not-too-distant future.

Check out the IG Client Sentiment page to find out how changes in positioning in major markets could signal the next price move.

S&P 500 Daily Chart (Dec 2018 t-line)

SPX Daily Price Chart

DAX breached December 2018 trend-line

The DAX failed the December 2018 trend-line on Friday with a gap in sympathy with the prior day’s afternoon session in the U.S. market. This puts in focus the 200-day around 11641 along with the low from June at 11620. This confluence could make for a good spot to see dip-buyers step in and at least induce a bounce.

DAX Daily Chart (below 2018 t-line)

DAX Daily Price Chart

FTSE 100 wrecked bull-flag breakout

The FTSE broke out of a bull-flag on Monday, but quickly reversed the breakout and then some. Strong pressure is coming down on trend-lines from the 2018 high and low. It was a damaging week, but just as is the case with the other indices there is room for a bounce soon if support can hold. Will be on the watch for a bullish response off trend support and whether one can hold if it develops.

FTSE 100 Daily Chart (watch t-lines below)

FTSE Price Chart

Helpful Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at@PaulRobinsonFX

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

DISCLOSURES