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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • AUD/USD sharply higher following last week's decline $AUDUSD
  • The US Dollar has put in a very strong push since the Thursday lows – and for traders looking to fade that move, the long side of GBP/USD may be attractive. Get your $GBP market update from @JStanleyFX here:
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.21% Gold: -0.71% Silver: -0.76% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.57%, while traders in GBP/JPY are at opposite extremes with 66.37%. See the summary chart below and full details and charts on DailyFX:
  • Biden administration to use 'all available tools' to challenge unfair China trade practices, still conducting comprehensive review of trade policy with China - BBG $USDCNH
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: US 500: 2.42% Wall Street: 2.17% FTSE 100: 0.26% Germany 30: 0.12% France 40: 0.10% View the performance of all markets via
  • $USDJPY is hitting fresh multi-month highs today as the pair continues to trade above the 106.50 level. The last time this pair traded at that level was in early August. $USD $JPY
  • $WTI Crude Oil is down over 4% off of today's highs, falling from an intraday high above 62.50 to currently trade right around 60.00, its lowest level since early last week. $USO $OIL
  • 🇧🇷 Balance of Trade (FEB) Actual: $1.2B Expected: $0.9B Previous: $-1.125B
Guest Commentary: How to 'Steal a Base' to make a 1000-pips in USD/CAD

Guest Commentary: How to 'Steal a Base' to make a 1000-pips in USD/CAD

Ed Matts, Technical Strategist

* We remain long USDCAD in the aggressive 'Catchuptrend' to at least 1.0445.

* Our confidence in this trade allows us to add again with 1.0001 stops.

* A 'fractal Triangle' suggests we may to wait for the end of a correction in time and not distance.

Guest_Commentary_How_to_Steal_a_Base_to_make_a_1000-pips_in_USDCAD_body_Picture_1.png, Guest Commentary: How to 'Steal a Base' to make a 1000-pips in USD/CAD

Dollar Canada remains within an uptrend to into the first serious resistance area in the broad 1.0400-75 region. So we are staying long the Fat Pitch and the Home Run but the issue is what form the current correction is taking from 1.0340 and whether and where we could even 'steal a base'. Four factors help.

The first is the Fibonacci retracements. 1.0245 which we have seen already was the 23.6% and 1.0185 is the 38.2%.

Secondly 1.0185 will be approximately the broken major down channel highlighted on the daily perspective should the correction extend further.

But thirdly, what is shaping up like a triangle in the narrowing 1.0235-1.0340 suggests we have seen the low already and that the correction is in time rather than distance.

Fourthly, a repeating fractal in this triangle suggests at least one if not two more repeats and therefore a week of consolidation before it breaks higher to the major 1.0445 confluence target. (5=1, triangle breadth + high, and June 2012 high).

So we will either wait until the fractal plays out again or we get the unlikely spike down to 1.0185 to add or steal a base with stops below 1.01 looking to cut 2/3 of our long above 1.04.

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

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

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