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.

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
EUR/USD
Bearish
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
Oil - US Crude
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
Wall Street
Bearish
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
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
GBP/USD
Bearish
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
Bullish
More View more
Real Time News
  • 🇰🇷 Consumer Confidence (SEP) Actual: 79.4 Previous: 88.2 https://www.dailyfx.com/economic-calendar#2020-09-24
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.20% 🇬🇧GBP: 0.15% 🇪🇺EUR: 0.07% 🇯🇵JPY: -0.05% 🇨🇭CHF: -0.30% 🇦🇺AUD: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AxA4F2bdLO
  • Heads Up:🇰🇷 Consumer Confidence (SEP) due at 21:00 GMT (15min) Previous: 88.2 https://www.dailyfx.com/economic-calendar#2020-09-24
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.86% Gold: 0.31% Oil - US Crude: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/KGhOU0JkGg
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.99%, while traders in EUR/GBP are at opposite extremes with 66.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/I8ErFM6ptJ
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.20% FTSE 100: 0.16% France 40: 0.13% Wall Street: -0.01% US 500: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ocJM79mXIK
  • Commodities Update: NYM WTI Crude 40.14 (+0.53), ICE Brent Crude 41.75 (-0.05%), NYM NYH Gasoline 119.10 (+0.82%). [delayed]
  • USD/CAD price reverses lower as the US Dollar surrenders recent gains back to the Loonie. Get your $USDCAD market update from @RichDvorakFX here: https://t.co/gikRAF4Kh8 https://t.co/koyX0zf5w3
  • "USD/CAD Price Outlook: Canadian Dollar Recoils at 100-Day MA" Link to Analysis via @DailyFX - https://www.dailyfx.com/forex/market_alert/2020/09/24/usdcad-usd-cad-price-outlook-canadian-dollar-recoils-at-100-day-ma.html $USDCAD $USD $CAD #FX #Forex #Trading https://t.co/g8UDn0Vffs
  • #Oil Price Outlook: #Crude Caught at Resistance- $WTI Breakout Pending - https://t.co/PmOjGYDx97 https://t.co/JeC4TvlA6i
Nikkei 225 Technical Analysis: Bullish Channel Beckons Above Resistance

Nikkei 225 Technical Analysis: Bullish Channel Beckons Above Resistance

2015-12-03 05:03:00
Nathalie Huynh,
Share:

Talking Points:

  • Nikkei 225 Strategy: Patiently wait for breach of resistance; range trade
  • Slight upward momentum retains the upside of the index
  • Strong resistance of 76.4% Fibonacci at 19,989.4. Firm support of 61.8% Fibonacci at 19,397.1

The Nikkei 225 is struggling to break above the 19,989.4 resistance level and 76.4% Fibonacci. Upward momentum is building in the daily chart, an early good sign for the bulls. The October-November bullish channel is beckoning the index, if it manages to break above.

Nikkei has traded flat underneath resistance level since November 18. As a result, it broke through the lower bound of bullish channel (and a previous support trend line). If momentum is to indicate price action, it may return to the channel following a resistance breach.

Clearly all eyes are on the upside at present, although patience may be stretched thin for the bulls. Range traders could also watch out for any reversal from here down to 61.8% Fibonacci and support level at 19,397.1. Tight stops should be placed on any trades that go against the direction of momentum.

Nikkei 225 Technical Analysis: Bullish Channel Beckons Above Resistance

Losing Money Trading Forex? This Might Be Why.

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

DISCLOSURES