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
Subscribe
Please try again
EUR/USD
Bullish
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
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/4dhCP5pnxM
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here: https://t.co/kLXZewWBMd https://t.co/w1Nu0z569m
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/Gn41XsGktg
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/2AR1qgx0tz
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here: https://t.co/5rjm2gr3EL https://t.co/aLwhWHMPqz
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/obH0RFLKhC
  • It was a big Q1 for $USDJPY but so far Q2 has been a far different tone. Which side will prevail? Get your market update from @JStanleyFX here: https://t.co/TxlD3zoglZ https://t.co/rUQnokAx30
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/ycjWjCETQJ
  • The RBA highlighting several key risks to the local economy in its semi-annual FSR may drive AUD lower against haven-associated currencies despite the expectation of strong Q1 GDP figures out of China. Get your market update from @DanielGMoss here: https://t.co/kLZ8DQxH3z https://t.co/KubqA24TLH
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/36Sy4DOnFD
FTSE 100: Arriving at Confluence of Support

FTSE 100: Arriving at Confluence of Support

Paul Robinson, Strategist

What’s inside:

  • The FTSE continues to fall back into support
  • It’s late August, keeping trading size reduced and being more selective
  • Yellen speaking in Jackson Hole today

Since discussing the FTSE 100 on Tuesday, the index has continued to gradually fall back into support, taking the shape of a bull-flag/channel. The confluence of support in the form of July highs and rising lower parallel from early July is presenting an interesting spot from which the market should begin to turn higher if the recent descent is indeed constructive in nature.

Yesterday, a small reversal was experienced from right around the intersection of support, but a firm press lower into support and shove higher would act as a better signal the market is ready to continue its advance since the ‘Brexit’ lows. A break above the top-side trend-line of the bull-flag/channel formation will confirm the hold of support. Should the FTSE drop with conviction below both the July peak levels and lower parallel, then alternative routes will need to be considered.

FTSE (UK100) Daily

FTSE 100: Arriving at Confluence of Support

It’s late August, so the summer doldrums continue, making trading more difficult for those operating on any time-frame. This means it’s a good idea to continue trading with smaller size and more selectivity until market participation comes back into the market. Volume and volatility at some point will come back into the market, but until then we want to carefully navigate the current environment and keep our powder dry for when conditions are more conducive for making money.

Today, the Fed’s Janet Yellen is speaking in Jackson Hole, Wyoming. It can be a big deal, but not always. The feeling on this end is it will be a rather uneventful event this time around, but, traders should remain on their toes should the Fed-head say something which leans further to the dovish or hawkish side than is expected, and shoves US markets around which in result impacts other global markets as well.

Track trader positioning in real-time via the DailyFX ‘Speculative Sentiment Index’.

---Written by Paul Robinson, Market Analyst

You can follow Paul at @PaulRobinsonFX.

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

DISCLOSURES