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.

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
Subscribe
Please try again
EUR/USD
Bullish
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
Bearish
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
More View more
Real Time News
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/hwp2EU0zEm
  • "Wall Street Futures Update: Dow Jones (+0.39%) S&P 500 (+0.12%) Nasdaq 100 (+0.04%) [delayed] -BBG"
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.61% Gold: 0.23% Oil - US Crude: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UQpIKV2jEZ
  • Natural gas prices have recaptured a key trendline after a major heatwave sent energy demand in the United States soaring. Get your market update from @FxWestwater here:https://t.co/7DdcMrObKp https://t.co/G3OuF7Y5IB
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.17% 🇦🇺AUD: 0.11% 🇪🇺EUR: 0.10% 🇬🇧GBP: 0.06% 🇨🇦CAD: 0.04% 🇯🇵JPY: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lqLaaO04eh
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.38%, while traders in France 40 are at opposite extremes with 70.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KYpAOemcJX
  • The US Dollar may gain versus ASEAN currencies like the Singapore Dollar, Thai Baht and Philippine Peso after the Fed projected 2 rate hikes by the end of 2023. All eyes on US PCE data. Get your market update from @ddubrovskyFX here:https://t.co/LaLVW8FFHI https://t.co/Y0FoP7A5ZW
  • Dow Jones Rebound May Lift Sentiment for Nikkei 225 and ASX 200 https://www.dailyfx.com/forex/market_alert/2021/06/25/Dow-Jones-Rebound-May-Lift-Sentiment-for-Nikkei-225-and-ASX-200.html https://t.co/G6PRAUQbla
  • Increased rate bets following June's FOMC rate decision roiled markets, including commodities. Crude oil received a boost on Iran's election, while gold and copper look to incoming inflation data out of the US. Get your market update from @FxWestwater here:https://t.co/iGAO4dasIU https://t.co/iwDTDzgaHg
  • So #PBOC unexpectedly increased liquidity injections yesterday for the 1st time since March Sold 30b #Yuan of 7-day reverse repos at 2.2%, up from usual 10b MSCI #EmergingMarkets index understandably happy, eyeing a Descending Triangle Learn more here - https://www.dailyfx.com/education/technical-analysis-chart-patterns/descending-triangle.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/j2r0KTHQ8M
GBP/USD Trade Setup Pre-FOMC is Same as June

GBP/USD Trade Setup Pre-FOMC is Same as June

Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_gbp-usd_1_body_gbpusd.png, GBP/USD Trade Setup Pre-FOMC is Same as June

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: The GBPUSD “rally has reached the 61.8% retracement of the decline from the June high (1.5392) and the 38.2% of the decline from the beginning of the year (1.5408). The rally from the July low consists of exactly 2 equal legs right now.” The trade below last week’s low increases confidence that a high is in place. Interestingly, current pattern is nearly identical to the pattern that preceded the June FOMC meeting.

FOREX Trading Strategy: Wrote on 7/25 that “the rally in late US trading on ‘news’ is consistent with capitulation as well but there is no need to try and pick the exact high.” As it turned out, that was the exact high and we can now sell against that level. Due to upcoming news releases and likely volatile conditions, I plan on entering the market in halves with stops at 2 levels. Short entries at 1.5265 and 1.5305. Stops at 1.5360 and 1.5440. Target half at 1.5030.

LEVELS: 1.5100 1.5153 1.5200 1.5280 1.5308 1.5353

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

DISCLOSURES