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.

Free Trading Guides
EUR/USD
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
GBP/USD
Bearish
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • The Australian Dollar and New Zealand Dollar tend to rise with stocks. They have recently fallen despite gains in the #SP500. What does this mean for $AUDUSD and $NZDUSD ahead? #AUD #NZD #RBA #RBNZ - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/17/AUDUSD-NZDUSD-Outlook-Looks-Past-Stocks-to-Rate-Cut-Bets.html?CHID=9&QPID=917702 https://t.co/ddf2fV7Kyl
  • A few snippets from today's commentary. Check out the link below for the full story (via @DailyFX). https://t.co/I31tuq764r https://t.co/x0BaiOFA1P
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/e2YrN3dBrl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.00%, while traders in France 40 are at opposite extremes with 79.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UL7hqSD2Ki
  • US Dollar Forecast: $USD Lacking Impetus Ahead of Consumer Sentiment #Forex traders shift focus away from US-China trade deal headlines - perhaps toward the monthly release of #ConsumerSentiment data for volatility and clues on the Greenback's next move https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/01/16/us-dollar-forecast-usd-lacking-impetus-ahead-of-consumer-sentiment.html
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.11% 🇦🇺AUD: -0.02% 🇯🇵JPY: -0.03% 🇨🇭CHF: -0.05% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Kxcb9EtIWb
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.45% France 40: 0.26% Wall Street: 0.07% US 500: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/I5YIsKQAog
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (NOV), Actual: 1.3% Expected: 1.0% Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-01-17
  • The $JPY has weakened as a bounce-back in risk appetite saps haven-asset demand. However, the old uptrend line still provides clear resistance. Get your market update from @DavidCottleFX HERE:https://t.co/IMhgQ9jbF9 https://t.co/I7087olftk
  • Heads Up:🇯🇵 JPY Tertiary Industry Index (MoM) (NOV) due at 04:30 GMT (15min), Actual: N/A Expected: 1.0% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-01-17
Dow Jones, FTSE 100 & DAX Technical Forecast for the Week Ahead

Dow Jones, FTSE 100 & DAX Technical Forecast for the Week Ahead

2019-11-23 10:00:00
Justin McQueen, Analyst
Share:

Equity Analysis and News

  • Dow Jones | Upward Trajectory Remains Intact Despite Stalling in the Short Term
  • FTSE 100 | Bull Trap?
  • DAX | Upside Looks Exhausted Following False Upside Break
Dow Jones, FTSE 100 & DAX Technical Forecast for the Week Ahead

Source: Thomson Reuters, DailyFX

Dow Jones | Upward Trajectory Remains Intact Despite Stalling in the Short Term

Modest losses for the week with the Dow Jones easing some 0.6% having failed to consolidate above 28000. Consequently, with the index stalling in the near term, we look to support at the 23.6% Fibonacci retracement (27588) before a continuation of its bullish trajectory, given that momentum indicators (DMI) continue to tilt towards the upside.

Dow Jones Price Chart: Daily Time Frame (Oct 18 – Nov 19)

DaIly Down Jones Price Chart

FTSE 100 | Bull Trap?

A sizeable bounce back (largest intra-day gain since Jul’29th) in the FTSE 100 to close out the week in positive territory. However, with trend signals (ADX) have yet to confirm the uptick in the index, we see this move as a possible bull trap and thus expects gains to be limited by the descending trendline at 7375. A fade in the index brings support at 7261 into focus, which marks the 38.2% Fibonacci retracement.

FTSE 100 Price Chart: Daily Time Frame (Sep 2018 – Nov 2019)

Daily FTSE Price Chart

FTSE 100 DMI and ADX Indicators

FTSE 100 With DMI and ADX Indicators

DAX | Upside Looks Exhausted Following False Upside Break

Increased signs of exhaustion in the DAX following the false upside break through 13300. Consequently, the DAX looks to be at risk of a pullback with focus on support at 13000. As price action remains somewhat muted in the index, we see 13000 holding barring any notable shock on the trade war front. That said, failure to maintain 13000 would open up the doors for a move towards 12792 (76.4% Fibonacci retracement).

DAX Price Chart: Daily Timeframe (Nov 2017 – Nov 2019)

Daily DAX Price Chart

RESOURCES FOR FOREX & CFD 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 Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

mailto:Justin.mcqueen@ig.com

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

DISCLOSURES

News & Analysis at your fingertips.