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
  • The US Dollar caught a bid in the late part of last week to set a fresh September high. FOMC is around the corner, are bulls going to be able to push for another fresh high? Get your weekly US Dollar forecast from @JStanleyFX here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The Australian Dollar remains vulnerable to most of its major counterparts, with AUD/USD and AUD/JPY resuming losses. Did AUD/NZD bottom? AUD/CAD may consolidate. Get your weekly Australian Dollar forecast from @ddubrovskyFX here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • While the meetings of central bankers in the US, Japan and the UK will be front, left and center of traders’ minds this coming week, it would be wise not to ignore next Sunday’s German Federal Election. Get your euro forecast from @MartinSEssex here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
DAX: Sharp Reversal Results in Follow-through Selling

DAX: Sharp Reversal Results in Follow-through Selling

Paul Robinson, Strategist

What’s inside:

  • Yesterday the DAX put in a key reversal day
  • Broke through bottom-side t-line of rising wedge
  • Sellers have the upper-hand support levels highlighted

From yesterday’s commentary: “Today, if the DAX can’t maintain its gains and reverses course, it would not only put in a key reversal day after trying to break through serious levels of resistance (solid sign of rejection), but set itself up for breaking below the lower-side t-line of the rising wedge pattern.”

That is exactly what we saw yesterday – reversal day at major area of resistance, and today the DAX is slamming through the lower-side t-line of the rising wedge pattern. The 10265 level we noted as important also showed no support this time around as it had in the latter part of July.

DAX: Sharp Reversal Results in Follow-through SellingDAX: Sharp Reversal Results in Follow-through Selling

The downward momentum is quickly bringing the 10000/100 support area into focus. This should provide some support, even if a break for lower prices is to occur, but not viewed at this time as a spot to enter from the long-side. Below 10k we will look to the 9900 area as the next area of support.

At this time, it is difficult to say if this is the beginning of a large decline or simply a pullback. But, given the sharp reversal and continuation so far today (if it holds), it would appear this down-move could gain traction.

With that mind, short-term traders and scalpers can look to failing bounces as potential opportunities to establish shorts while watching how the market responds to support levels for cues to cover.

Learn more about how to utilize technical analysis with one of our many free trading guides designed for traders of all experience levels.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX.

He can be reached via email at with any questions or comments.

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