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
EUR/USD
Bearish
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
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
Gold
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
GBP/USD
Bearish
USD/JPY
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
  • We are the cusp of a technical correction (-10% from highs) for the Dow
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.18% 🇨🇭CHF: -0.20% 🇬🇧GBP: -0.48% 🇨🇦CAD: -0.96% 🇳🇿NZD: -1.07% 🇦🇺AUD: -1.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/IihtE4FL0A
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -2.73% Wall Street: -2.80% FTSE 100: -3.33% France 40: -4.21% Germany 30: -4.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LdaGMmi2NS
  • With the VIX at 40 and a lot of technical breaks across various indices, it's looking pretty ugly out there today I'll be going live in 15 minutes to talk through some of the most important levels and events. Join here - https://t.co/nTpoA2moq4
  • 🇺🇸 EIA Cushing Crude Oil Stocks Change (23/OCT) Actual: -0.422M Previous: 0.975M https://www.dailyfx.com/economic-calendar#2020-10-28
  • 🇺🇸 EIA Distillate Stocks Change (23/OCT) Actual: -4.491M Expected: -2.065M Previous: -3.832M https://www.dailyfx.com/economic-calendar#2020-10-28
  • GBP/USD looks likely to continue to trade around the 1.30 level as the talks between the EU and the UK on their future trade relationship continue.Get your $GBPUSD market update from @MartinSEssex here:https://t.co/cFyXdKJICz https://t.co/Fot9peW4aX
  • Simple moving averages win... https://t.co/o32G7254Mf https://t.co/SNGRVldOMj
  • And the DAX isn't the only pressing signal from key markets. The Dow for example which spends most of its time in net short territory has flipped net long with the largest long exposure I can see in at least two years - even greater than the Pandemic lows https://www.dailyfx.com/sentiment?ref-author=Kicklighter&CHID=9&QPID=917719
  • EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Oct 19, 2020 13:00 GMT when EUR/JPY traded near 124.10. A contrarian view of crowd sentiment points to EUR/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/iZ1yea7WEf
Dow Jones, DAX, FTSE Technical Forecast Remains Bullish

Dow Jones, DAX, FTSE Technical Forecast Remains Bullish

2020-01-18 13:00:00
Paul Robinson, Strategist
Share:

Indices Highlights:

  • Dow Jones looking towards the 30k mark
  • DAX still working on achieving a fresh record high
  • FTSE trying to play catchup, breaking out
Equities Forecast
Equities Forecast
Recommended by Paul Robinson
Download the Q1 Global Equities Forecast
Get My Guide

Dow Jones looking towards the 30k mark

U.S. indices continue their trek into record territory, with the major averages generally starting to have that frothy, overbought look to them. But until we see a break in the price action, and while that could come soon in terms of time, it’s a trend that doesn’t look worth the fight. Strong up-moves like this can get a little crazy before correcting, or putting in a larger top.

For now, the Dow is above all resistance penciled in, with the upper parallel of a channel dating back to early last year having been breached last week. The 30k level may be up next as a big psych level the market ‘wants’ to achieve.

Risk/reward for fresh longs at the moment isn’t particularly attractive, but shorting doesn’t hold much appeal either with momentum clearly pointing the market higher.

Dow Jones Daily Chart (reaching towards 30k soon?)

Dow Jones Daily Chart

Dow Jones Chart by TradingView

DAX still working on achieving a fresh record high

Last week it looked like the DAX was ready to finally break the 13596 all-time-high, but the index’s struggles to do so continued. Look for a new record high to develop in the week ahead as global risk appetite generally favors higher equity prices. Keep an eye on the ever-extending U.S. markets for signs of an attitude change towards stocks.

DAX Daily Chart (ATH just ahead)

DAX Daily Chart

DAX Chart by TradingView

FTSE trying to play catchup, breaking out

The FTSE had been suppressed the past few weeks, digesting the December surge. Friday, the 100 finally broke out above 7665 and the May 2018 trend-line. This sets up for a test and potential break of the 2019 high at 7727. A break above the 2019 levels will then have eyes on the ATH of 7903, created in 2018. The trading bias remains constructive in the absence of any pervasive price action.

FTSE Daily Chart (looking for 2019 highs and then some)

FTSE 100 Daily Chart

UK 100 Index Chart by TradingView

Forex & CFD Trader Resources

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