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
Mixed
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
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • Bitcoin slightly off its intraday highs, currently trading back below $40,000 #Bitcoin $BTCUSD https://t.co/MYISOU8c9B
  • The US 10Y beginning to retrace some of last week's rally, slowly crawling back towards 1.50% https://t.co/P2a5fHQUlq
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.03% Silver: -0.22% Gold: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XxGZAbPEdL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 74.73%, while traders in France 40 are at opposite extremes with 78.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7XIu5r1o2l
  • #Euro Forecast: $EURUSD Falters at Yearly Open Resistance- #FOMC Levels - https://t.co/uWukTncIRg https://t.co/dn84mhHxQx
  • The gold monthly opening-range is set just below confluence resistance – breakout to offer guidance. Get your $XAUUSD market update from @MBForex here:https://t.co/19rCMiLlxG https://t.co/uFGK8q14KG
  • WTI Crude Oil Breakout (Update) https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/14/wti-crude-oil-breakout-update.html $oil #oott https://t.co/UGOItnUhgd
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.03% France 40: -0.10% US 500: -0.23% FTSE 100: -0.23% Wall Street: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/th5Y4GcBcR
  • I don't think this has any easier a path to developing into momentum ahead of the Fed decision as bullish efforts elsewhere, but the $DJI Dow is tentatively breaking lower and the Nasdaq-to-Dow ratio usually showing spec reach is rising: https://t.co/eN8xb6JOhW
  • WTI crude oil has room to rally further. Around the 77 mark lies substantial long-term resistance. Get your market update from @PaulRobinsonFX here:https://t.co/J0qpmLG6wF https://t.co/M2sThc69rK
DAX Technical Outlook: Meltdown Risk Rising

DAX Technical Outlook: Meltdown Risk Rising

Paul Robinson, Strategist

DAX Technical Highlights:

  • DAX bearish price sequence keeps shorts well in play
  • U.S. markets moving closer to the edge
  • Strong support levels hard to come by

To see our analysts’ Top Trading Opportunities for 2018, check out the DailyFX Trading Guides page.

DAX bearish price sequence keeps shorts well in play

The DAX made a lower-low on Monday within the confines of a maturing bearish channel dating back to the early-part of February. The price sequence is marked by a series of clear lower-lows and lower-highs, and as long as the index stays below the upper parallel the outlook remains broadly bearish, with the weakening price action possibly resulting in a swift move lowe soon.

U.S. markets moving closer to the edge

The U.S. market, which has been the ‘strongest’, is looking quite vulnerable as the Feb 2016 trend-line and 200-day MA in the S&P 500 are coming under assault again. As said in yesterday’s S&P 500 commentary, that important confluence of support may not last long. And if it doesn’t…

With European postured more poorly than the U.S., should we start seeing equities swoon overseas, Europe and everyone else (Asia, etc.) will too. We have yet to see a full risk-off situation yet where all asset classes fully participate, but look for currencies, commodities, and other markets to participate should global stocks fall apart in earnest.

Strong support levels hard to come by

Getting back to the DAX, specifically, support at 11726 is about to come under fire again shortly. On a move to fresh lows, the lower parallel isn’t seen as holding for much longer. There is minor support at 11428, but nothing substantial until a trend-line extending higher from 2011, which doesn’t arrive for a solid 1000 points from current levels.

This doesn’t mean the market will decline to that point in one clip, but the DAX is trading in dangerous territory where worthy levels of support aren’t highly visible. To turn the picture bullish, a lot of work will need to be done from current levels. The next time we turn bullish might not be until we’ve seen a capitulation-style sell-off marking a bottoming-type event.

Surging volatility shaking your confidence? Check out this guide for 4 ideas on how to Build Confidence in Trading.

DAX Daily Chart

DAX daily price chart, bearish channel could soon turn into a swoon

Forex & CFD Trader Resources

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please SIGN UP HERE

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES