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
Oil - US Crude
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
  • Greed has proven to be a hindrance more than assistance for traders. How does greed impact your trading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/C4vrTm69sE
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/WkwZK6wtzy
  • The $GBPUSD may be carving out a 4-year bearish candlestick pattern as the $EURGBP downtrend prolongs. GBP/JPY may rise but be wary of #Brexit risks clouding technical analysis. Get your GBP market update from @ddubrovskyFX here: https://t.co/wzV4fygKWe https://t.co/hpDmrh0LLo
  • Get your technical setups for the British Pound ahead of the key #Brexit vote in Parliament this weekend here $GBPUSD $EURGBP $GBPJPY - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/10/19/GBPUSD-EURGBP-GBPJPY-Technical-Analysis-Amid-Brexit-Deal-Vote.html?CHID=9&QPID=917702 https://t.co/TBdvAY6GN2
  • The Australian Dollar could reverse gains if #Brexit is forced to be delayed. Global growth slowdown woes and other fundamental risks may also undermine $AUDUSD upside progress. Get your $AUD market update from @ddubrovskyFX here: https://t.co/VAs2C3cpQj https://t.co/9mqJ0DSLZZ
  • Here is my trading video for the week ahead: '$EURUSD, #Pound, Volatility - The Biggest Risks and Opportunities Ahead' https://www.dailyfx.com/forex/video/daily_news_report/2019/10/19/EURUSD-Pound-Volatility---The-Biggest-Risks-and-Opportunities-Ahead-.html
  • $GBPUSD is on the verge of pushing above five-year resistance. A break above with follow-through may precede considerable upside movement. Get your GBP/USD market update from @ZabelinDimitri here: https://t.co/0qfh7TRWJn https://t.co/GImIwuGodX
  • The $AUD may resume its downtrend while the #ASX 200 stock index powers higher as dovish monetary policy drives interest rates lower. Get your market update from @IlyaSpivak here: https://t.co/UPlHZrt6c2 https://t.co/EIIf9xackw
  • (Fundamental Forecast) Australian Dollar Could Wilt if Brexit Delayed, Growth Risks Hang $AUDUSD #Brexit - https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2019/10/19/Australian-Dollar-Could-Wilt-if-Brexit-Delayed-Growth-Risks-Hang.html?CHID=9&QPID=917702 https://t.co/2aOYhblN3g
  • The $USD faces selling pressure against the Malaysian Ringgit and Philippine Peso. More losses may be in store in $USDMYR as $USDPHP descends through rising support from 2013. Get your market update from @ddubrovskyFX here: https://t.co/t3kmFpmg1w https://t.co/miBrgxmtkA
DAX Takes a Hit on Euro Strength, Broader Outlook Remains in Limbo

DAX Takes a Hit on Euro Strength, Broader Outlook Remains in Limbo

2017-07-21 08:34:00
Paul Robinson, Currency Strategist

What’s inside:

  • Post-ECB euro rallies strongly, DAX drops over 1%
  • Head-and-shoulders top still no closer to triggering despite decline
  • Trading outlook muddled, risk/reward still favors sidelines

What big factors are expected to impact the DAX & Euro in Q3? Find out here!

The DAX didn’t like yesterday’s euro rally post-ECB. Not one bit. During the final three hours of the cash session the euro rallied sharply over 1% while the DAX fell over 1%. The one-month correlation between the currency and index hit an extreme of -92% (practically trading 1-to-1 inversely) earlier in the month, but is starting to diminish as it sits at -46% today (still significant). At any rate, sudden sharp moves in either direction in the euro are likely to spark a DAX move. The relationship isn’t something we spend a lot of time focusing on, but worth keeping in mind when there is a possibility for the euro to make a big move on an anticipated event. Generally speaking, while the correlation is more often than not negative, the euro and DAX do at times trade together, so be careful in overanalyzing the relationship.

DAX/EUR: 5-min

DAX Takes a Hit on Euro Strength, Broader Outlook Remains in Limbo

The question we asked a couple of days ago was this – “Will the developing H&S top become a reality?” (*H&S = Head-and-shoulders) It’s a question we can’t answer until the DAX trades below the neckline and into the April gap. It looks like a solid topping formation, but without a confirmed break the pattern is still in a development stage. If in the not-too-distant future the DAX doesn’t break down then an alternate path (bearish or bullish) may need to be considered.

In the shorter-term we are lacking clarity; low volatility is making sure of this. There are sellers above 12500 and support comes in near 12300. For now, risk reward generally favors the sidelines unless scalping, in which case there are still some intra-day moves nimble day-traders can take advantage of.

DAX: Daily

DAX Takes a Hit on Euro Strength, Broader Outlook Remains in Limbo

Paul conducts webinars every week from Tuesday-Friday. See the Webinar Calendar for details, and the full line-up of all upcoming live events.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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


News & Analysis at your fingertips.