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
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
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.04% 🇬🇧GBP: -0.00% 🇨🇦CAD: -0.01% 🇪🇺EUR: -0.02% 🇦🇺AUD: -0.02% 🇨🇭CHF: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8UV5kohKTL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.06%, while traders in GBP/JPY are at opposite extremes with 73.15%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M47Dqej67q
  • The US Dollar may gain versus ASEAN currencies like the Singapore Dollar, Thai Baht and Philippine Peso after the Fed projected 2 rate hikes by the end of 2023. All eyes on US PCE data. Get your market update from @ddubrovskyFX here:https://t.co/LaLVW8FFHI https://t.co/BonfAZM5o8
  • S&P 500 Retreats as Investors Mull Tapering, Hang Seng and ASX 200 May Fall https://www.dailyfx.com/forex/market_alert/2021/06/24/SP-500-Retreats-as-Investors-Mull-Tapering-Hang-Seng-and-ASX-200-May-Fall.html https://t.co/vv1dpIZSBU
  • Increased rate bets following June's FOMC rate decision roiled markets, including commodities. Crude oil received a boost on Iran's election, while gold and copper look to incoming inflation data out of the US. Get your market update from @FxWestwater here:https://t.co/iGAO4dasIU https://t.co/gpx3AWiTmX
  • RT @BrendanFaganFx: Bitcoin (BTC) Analysis: Dead Cat Bounce After Death Cross, or New Bull Market? #Bitcoin #Ethereum #Dogecoin $BTC $ETHU…
  • (3/3) If that is the case, then US inflation could increase in areas like food, dinning, travel, etc... Thus, CPI risks remaining high, which could continue bolstering the case for sooner-than-expected #Fed tapering #Treasury yields could resume gains and remain elevated
  • (2/3) The Fed's case is that inflation is transitory, especially as the initial effects of the low-base impact and supply chain bottlenecks fade Might inflation jump around? If desire to travel & go out are high, consumers willingness to pay more for these services may rise
  • (1/3) Food for thought: According to a survey from @Discover, 70% of US consumers feel a desire to travel again, but... Cost of destination was reported to determine where 87% of them may go 66% of consumers are planning trips 1 - 6 days length https://t.co/CeIBvSBadw
  • The Canadian Dollar may have more room to weaken looking at a Loonie index. USD/CAD is struggling to confirm a push above the 100-day SMA, watch the 4-hour chart for near-term clues. Get your market update from @ddubrovskyFX here:https://t.co/ezLH8Ky4a0 https://t.co/Pola0jZbvP
FTSE 100 Outlook: Putting Topping Pattern to the Test

FTSE 100 Outlook: Putting Topping Pattern to the Test

Paul Robinson, Strategist

FTSE 100 Technical Highlights:

  • FTSE rally putting topping pattern to the test
  • Watch trend-line off summer high, Sep high

For our analysts intermediate-term fundamental and technical view on the FTSE and other major indices, check out the Q4 Global Equity Markets Forecast.

FTSE rally putting topping pattern to the test

The FTSE started off from the neckline of a would-be head-and-shoulders pattern, and as such the pattern has yet to become official, remains only a scenario. One that could come off the board soon. The 200-day has done little in the past 24 hours to act as a level of importance, unlike it has on several occasions in recent months.

The burst through the major moving average isn’t complete and could fail at the trend-line off the July high. If this is the case, then the head-and-shoulders (H&S) top, while getting more complicated, will still remain in play. In fact, as long as the FTSE doesn’t rise above the September high at 7440 that will remain the case.

But we will still need a sharp drop and break of both the neckline and 2016 trend-line to get things rolling downhill in a meaningful manner. Again, the H&S top is still just an idle scenario until then.

If the trend-line breaks as it looks like it might, then the 7440 level becomes the next focus as resistance. A breakout beyond that point would not only erase the aforementioned topping sequence, but also bring into play the July high at 7727.

Check out this guide for 4 ideas on how to Build Confidence in Trading.

FTSE Daily Chart (H&S top under fire, broader rally coming?)

FTSE 100 Outlook: Putting Topping Pattern to the Test

UK 100 Index Charts by Tradingview

You can join me every Wednesday at 930 GMT for live analysis on equity indices and commodities, and for the remaining roster of live events, check out the webinar calendar.

Tools for Forex & CFD Traders

Whether you are a beginning or experienced trader, DailyFX has 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

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