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. See our updated Privacy Policy here.



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
Wall Street
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
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here:
  • The European Central Bank will consider it a job well done if there is no movement in EUR/USD or the Euro crosses before, during or after Thursday’s policy announcements by its Governing Council. Get your weekly Euro forecast from @MartinSEssex here:
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • Further your forex knowledge and gain insights from our expert analyst @ @MartinSEssex and @DColman on EUR with our free Q4 market analysis guide, available for free today. #Dailyfxguides
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • RT @Stephanie_Link: 84% of $SPX companies have beaten EPS estimates to date for Q3, which is tied for the 3rd highest percentage since 2008…
  • What is #NFP and how can you trade it? Find out:
Dow Jones, DAX & Gold Price Technical Analysis on Fed Day

Dow Jones, DAX & Gold Price Technical Analysis on Fed Day

Paul Robinson, Strategist

Today the Fed is expected to cut rates by 25-bps with a small chance at a 50-bps cut. Either way markets are expected to make moves, especially if the latter happens. The Dow Jones is consolidating at a long-term resistance line, while the DAX in Europe is sitting on trend support. Gold continues to chop sideways but anticipated to validate or reverse a recent pattern breakout.

Technical Highlights:

  • Dow Jones consolidating at big resistance
  • DAX testing the June trend-line
  • Gold price looking to make or break

Make more informed decisions by checking out our trading forecasts and educational resources on the DailyFX Trading Guides page.

Dow Jones consolidating at big resistance

The Dow is hanging out just below the top-side trend-line running over the January 2018 peak. This has the market in a state of limbo as price action isn’t showing much weakness, but resistance is acting formidable. Tactically speaking, waiting to do anything until after we see how the market reacts today may be the most prudent move.

The Fed is expected to cut by 25-bps, so the reaction may not be that sizable, however; a cut of 50-bps and the market is likely to become volatile. Of interest will be how the market treats the highly anticipated rate cut, especially if the bigger cut is made. A failure to rally or at least hold a rally for long may be a big sign that the market wants to turn lower. In ‘wait-and-see’ mode on this end.

Dow Jones Daily Chart (strong but at top-side t-line resistance)

Dow Jones, DAX & Gold Price Technical Analysis on Fed Day

DAX testing the June trend-line

The DAX sold off strongly yesterday, putting it down on the trend-line rising up from the June low. Price action at this time isn’t encouraging for it to hold, but there is time for that to change. We will have to wait until tomorrow for the reaction out of Europe to the Fed given that the markets will be closed. A sizable gap tomorrow morning could develop and help provide a better indication as to whether German stocks want to hold or fold.

DAX Daily Chart (looking for new highs soon…)

Dow Jones, DAX & Gold Price Technical Analysis on Fed Day

Gold price looking to make or break

Gold broke out of a wedge back on the 17th and is so far holding onto the top-side trend-line of the pattern. It will be important for it to maintain the wedge breakout if it is to continue higher, because a failure to hold a pattern breakout can lead to a sharp move in the opposite direction. For now, support is support until it isn’t. Today could end up being an important moment for the precious metal.

Gold Price 4-hr Chart (hold or fold the wedge?)

Dow Jones, DAX & Gold Price Technical Analysis on Fed Day

Resources for Index & Commodity Traders

Whether you are a new or an experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, and trading guides to help you improve trading performance.

We also have a series of guides for those looking to trade specific markets, such as the S&P 500, Dow, DAX, gold, silver, crude oil, and copper.

---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.