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
Bearish
GBP/USD
Mixed
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
Gold
Bearish
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • Last week saw #stocks unravel as some of the globe’s major economies stumbled and #coronavirus concerns rampaged. Will stocks continue lower in the week ahead? Get your Indices market update from @PeterHanksFX here: https://t.co/T4jehtl0fE https://t.co/Zn6cdyepcD
  • $USDJPY is down over 150 pips from last week's high on #coronavirus fears https://t.co/lO5Qpk9wUQ
  • $EURUSD bounce from Fib support up to Fib resistance https://t.co/4NSZ1BIW7y
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.88% 🇨🇭CHF: 0.09% 🇪🇺EUR: 0.08% 🇦🇺AUD: -0.12% 🇨🇦CAD: -0.22% 🇬🇧GBP: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eJUkRasjLO
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: US 500: -2.79% Wall Street: -2.96% France 40: -3.99% Germany 30: -3.99% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/nK6SjSf2hy
  • Dow Jones Falls to its Lowest Price in 2020, Will DJIA Test Monthly Support? More details in the link below: https://www.dailyfx.com/forex/technical/article/special_report/2020/02/24/Dow-Jones-Falls-to-its-Lowest-Price-in-2020-Will-DJIA-Test-of-Monthly-Support-MK.html?CHID=9&QPID=917714 https://t.co/oey1c3t6LD
  • Germany 30 IG Client Sentiment: Our data shows traders are now net-long Germany 30 for the first time since Feb 03, 2020 when Germany 30 traded near 12,999.10. A contrarian view of crowd sentiment points to Germany 30 weakness. https://www.dailyfx.com/sentiment https://t.co/kuP6G13JFT
  • France 40 IG Client Sentiment: Our data shows traders are now net-long France 40 for the first time since Oct 03, 2019 when France 40 traded near 5,464.40. A contrarian view of crowd sentiment points to France 40 weakness. https://www.dailyfx.com/sentiment https://t.co/WGVZYX1IKX
  • Current US Treasury Yield Curve inversion https://t.co/UMfyVhuk4a
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: 1.81% Silver: 1.23% Oil - US Crude: -3.90% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/qhKj0AqwkV
Any Pullbacks in these Markets Should be Very Well Supported; Scandi Bearish

Any Pullbacks in these Markets Should be Very Well Supported; Scandi Bearish

2011-12-16 05:51:00
Joel Kruger, Technical Strategist
Share:

Eur/SekThe market remains very well supported and we look for a continuation of gains and fresh upside extension back towards key multi-week resistance by 9.35 over the coming days. A sustained break above 9.35 should accelerate gains and mark a material bullish shift in the overall structure. Ultimately, only a weekly close below 8.95 would give reason for concern. Look to buy dips towards 9.00.

Usd/SekThe market looks to be in the process of a major structural shift, with the latest multi-day consolidation broken to confirm the formation of a higher low and next major upside extension beyond 7.00. Recent setbacks have been well supported by previous resistance at 6.30 to further confirm constructive outlook and expose a retest of the critical November 2010 highs by 7.07 further up.

Usd/Nok The market looks to be in the process of a major structural shift, with the latest multi-day consolidation broken to confirm the formation of a higher low and next major upside extension beyond 6.00. Recent setbacks have been well supported by previous resistance at 5.40 to further confirm constructive outlook and expose a break of the 6.00 handle over the coming days. Back above 6.00 opens next key resistance zone by 6.25 area.

Eur/NokWe believe are finally starting to see the formation of a potential base in the cross following the latest sharp bounce out from some very solid support in the 7.50 area. From here, look for an acceleration of gains through the multi-week range highs by 7.95, with further acceleration expected on a break above 8.00. Only back below 7.60 concerns.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.