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
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
More View more
Real Time News
  • RT @markets: China cuts rates, adds medium-term funds to counter virus https://t.co/mo9zSlvelK
  • RT @ReutersBiz: BOJ Kuroda says to consider more easing if virus impact becomes big: Sankei https://t.co/3nUe8w1wCX https://t.co/zYURJZPI5q
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.40%, while traders in Germany 30 are at opposite extremes with 84.40%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/3W1wmqOZN6
  • NZD/USD Technical Analysis: NZ Dollar May Fall After Rally Stalls - https://www.dailyfx.com/forex/technical/home/analysis/nzd-usd/2020/02/17/NZDUSD-Technical-Analysis-NZ-Dollar-May-Fall-After-Rally-Stalls.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #NZDUSD #technicalanalysis https://t.co/AGFVqPHvRf
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.22% 🇨🇦CAD: 0.12% 🇪🇺EUR: 0.08% 🇳🇿NZD: -0.02% 🇬🇧GBP: -0.03% 🇯🇵JPY: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Ja6A4Wccdw
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.35% France 40: 0.27% US 500: 0.24% Wall Street: 0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/S5Jho7QomA
  • 🇯🇵 JPY Industrial Production (YoY) (DEC F), Actual: -0.4% Expected: N/A Previous: -3.0% https://www.dailyfx.com/economic-calendar#2020-02-17
  • The US Dollar gained versus SGD and IDR despite a “risk-on” tone in markets, boosted by strong declines in the Euro. What is the week ahead for $USDSGD, $USDIDR, $USDPHP and $USDMYR? #USD #ASEAN #Euro - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/02/17/US-Dollar-USDSGD-USDIDR-May-Rise-on-FOMC-Minutes-and-Repos.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/YMkZ4WhG0A
  • Heads Up:🇯🇵 JPY Industrial Production (YoY) (DEC F) due at 04:30 GMT (15min), Actual: N/A Expected: N/A Previous: -3.0% https://www.dailyfx.com/economic-calendar#2020-02-17
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.63% Oil - US Crude: -0.02% Gold: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/oNEkMGVhyX
Webinar: Price Action Setups Pre-FOMC

Webinar: Price Action Setups Pre-FOMC

2016-04-26 19:00:00
James Stanley, Currency Strategist

Talking Points:

- A heavy slate of data awaits markets, with tomorrow’s FOMC meeting looming large over USD, S&P and even Oil trends. February 11th was a critical day in markets, as this was day 2 of Chair Yellen’s Congressional testimony, and this is what helped set that bottom in stocks and Oil prices. At the time, Ms. Yellen took a very dovish stance towards rate path out of the United States. The big question is whether she and the Fed can do that again after the S&P has ripped higher by 15.5% in 2.5 months. And if the Fed does talk up the possibility of a June hike, will these trends come undone?

- One of the more interesting technical setups is currently in Oil, as we had covered in this morning’s Market Talk (if you want to be notified as Market Talk is published each morning, please click here to join my distribution list). Oil currently has well-defined support and resistance from two different Fibonacci retracements that we discuss in today’s webinar. There may actually be a reversal play in the not-too-distant future.

- The bigger question mark comes out of the Bank of Japan, set to announce their most recent decision on Thursday morning. Nobody is quite sure what they might even be deciding on at this point after the January move to negative rates didn’t work out so well. A rumor was circulating on Friday that the BoJ may be investigating Negative Rate Bank Loans, and given technical formations on Yen pairs as well as the Nikkei, traders need to be cautious of continued reversals (further Yen weakness, Nikkei strength).

- Gold is also in the midst of a fairly interesting technical formation, as we’ve seen a range develop after the February breakout (Gold also produced a spike on the morning of February 11th). The chart below goes over the current technical setup in Gold, with a support zone from $1,200.41-$1,217.26, again being defined by two different Fibonacci retracements.

Webinar: Price Action Setups Pre-FOMC

Created with Marketscope/Trading Station II; prepared by James Stanley

--- Written by James Stanley, Analyst for DailyFX.com

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

Contact and follow James on Twitter: @JStanleyFX

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


News & Analysis at your fingertips.