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
EUR/USD
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
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
Bullish
GBP/USD
Mixed
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
  • White House Economic Advisor Hassett says some workers going back to their jobs is building confidence $DXY $SPX
  • Gold Price Outlook: XAU Overbought as Cycles Drive the Bullish Trend https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/28/Gold-Price-Outlook-XAU-Overbought-as-Cycles-Drive-the-Bullish-JS-Trend.html $Gold https://t.co/ntbvPQTHF9
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.34% Gold: 0.26% Oil - US Crude: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/yvJX18QY14
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in US 500 are at opposite extremes with 74.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/l7878VS4m7
  • As long as this moves forward, the verbal (Twitter) threats of action between the US and China will garner less and less actual market movement https://t.co/pvGOJuAG4N
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.99% Wall Street: 0.76% FTSE 100: 0.08% France 40: -0.03% Germany 30: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/f3oAYUPoEj
  • White House Advisor Kudlow says phase-one deal with China is still planned to move forward $FXI $SPX
  • White House Advisor Kudlow says "big mistake" for China going into Hong Kong - BBG
  • The S&P 500 is approaching secondary breakout targets up here and the rally may be vulnerable heading into uptrend resistance. Get your S&P500 technical analysis from @MBForex here: https://t.co/21a20ql6RH https://t.co/elk1mcR4UM
  • U.S. House passes bill expanding the PPP loan program rules $SPX
USD and Equity Trends Broken, Pound and Oil Staged for Breakout

USD and Equity Trends Broken, Pound and Oil Staged for Breakout

2016-05-12 02:21:00
John Kicklighter, Chief Strategist
Share:

Talking Points:

  • The Dollar and S&P 500 saw their bull trends corrected Wednesday, but their pace diverged according to volatility
  • A quarterly BoE rate decision comes at the right time for tense technical setups in the Pound crosses
  • Tactical - short-term, technically oriented - options are still better suited for market conditions

See the standings in the Monthly FXCM Mini trading contest.

Both the Dollar and US equities saw their rallies cut down this past session, with the severity of the move dictated by their underlying volatility. Yet, whether we reference the sharp drop in the S&P 500 or the more gradual correction for the Greenback after a six-day climb; the potential for trend is equally restrained by underlying market conditions. In other words, these are not particularly good conditions to develop robust and persistent trends whether on the basis of risk trends, relative monetary policy or other more endemic conditions. However, there are plenty of opportunities that fit the 'tactical' mode. In particular, the Pound pairs are well-staged for short-term technical breaks (with the potential of follow through) with distinct levels and the impending BoE decision. It is the Quarterly Inflation report that will the real fundamental leverage. Among the Sterling crosses, there are particularly remarkable charts for GBPUSD, EURGBP and GBPAUD. Oil prices are another outlet for the short-term view with a 3-dollar range keeping the market from its trend. We look over the market conditions and better aligned opportunities in today's Trading Video.

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

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

DISCLOSURES

News & Analysis at your fingertips.