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
Oil - US Crude
Mixed
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
Bullish
GBP/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
USD/JPY
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
More View more
Real Time News
  • LIVE IN 30 MIN: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • Iranian Ambassador to China: "The US' unilateral sanctions on Iran will turn to genocide against Iran if the international community succumbs to US bullying" - Global Times That is some intense wording. Last thing markets need now is escalated geopolitical tensions.
  • China sets the Yuan reference rate vs #USD at 7.0477 (BBG)
  • South Korea coronavirus death toll rises by 6 to 158 following reports that the country had confirmed 78 more additional cases, bringing the total to 9,661 (BBG) #USDKRW #covid19
  • Currency Strategist,@PaulRobinsonFX is a Swing trader. What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/skDq5iLemR
  • Singapore MAS eases policy and reduced the currency band slope to zero. (BBG) Learn more about how to trade #USDSGD here - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/09/03/The-Singapore-Dollar-and-MAS-What-is-SGD-and-How-to-Trade-it.html
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/2:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/x0FHuNIsJ5
  • RT @JPan_IG: SINGAPORE CENBANK SAYS MAS WILL ADOPT A ZERO PERCENT PER ANNUM RATE OF APPRECIATION OF THE POLICY BAND STARTING AT THE PREVAIL…
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/yF133btXFd https://t.co/rUp1G9zzxj
  • #SPX futures down over 1.5% too, echoing risk-off bias https://t.co/Z0n4L156tl
Guest Commentary: Dream Trade on GBPJPY Continues to Deliver Pips!

Guest Commentary: Dream Trade on GBPJPY Continues to Deliver Pips!

2012-09-20 16:00:00
Ed Matts, MarketVisionTV.com,
Share:

* Sterling Yen continues to follow an Analogy with previous price action and an almost incredible sequence of moves.

Guest_Commentary_Dream_Trade_on_GBPJPY_Continues_to_Deliver_Pips_body_GBPJPY2009.png, Guest Commentary: Dream Trade on GBPJPY Continues to Deliver Pips!

Despite the aggressive overshoot of the long awaited 127.85 target, Sterling Yen has reversed to encourage a continuation of the Dream Trade…an amazing sequence of levels and trades to manage a medium term climax.

Indeed following what appears to be an extended 5th wave blowout through 126.20 to 128.85, Sterling has reversed in what also appears to be a wave down to 126.20, the extension point.

This is perfect for two reasons:

- First, it is following classic theory that suggests a double retracement, a corrective recovery now to retest but fail the 128.85 high before the next more aggressive break down through pivotal 125.85 to 124.40 en route 128.80.

- Secondly, this would repeat the previous 133.45 top with a consolidation top before medium term weakness.

As such we have reduced shorts here looking to resell at the more cautious 127.85 coincidentally also the 61.8% and the 128.85 highs with stops still 129.20 as only this would extend further to the 78.6% at 130.35.

Further videos or commentaries are available from www.marketvisiontv.com or @EdMatts on Twitter.

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.