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
Wall Street
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
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
Bullish
USD/JPY
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
More View more
Real Time News
  • Trump will meet soon with advisors to talk about new relief bill - DJ via BBG
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.24% 🇳🇿NZD: 1.03% 🇨🇦CAD: 0.56% 🇪🇺EUR: 0.46% 🇨🇭CHF: -0.07% 🇯🇵JPY: -0.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XNw8pkSsXa
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 1.98% Germany 30: 1.33% FTSE 100: 0.81% Wall Street: 0.71% US 500: 0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/J2WnVIkNxh
  • Trump says a COVID-19 vaccine is coming along really well, along with therapeutics $SPX
  • President Trump to speaking to the market's interests optimism of a expedited economic reopening, but not a lot of detail to gain traction around https://t.co/gc54MZMtuG
  • The $DXY Dollar Index is often a mirror of EURUSD - as the benchmark cross accounts for a vast majority of the trade-weighted index. The DXY is also down 6 straight trading days, but it hasn't seen a 7th since October 2007 https://t.co/ipeUVxqHOj
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.60% Gold: 0.25% Silver: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nBg1O9AB2c
  • GBP/USD has broken convincingly to the upside from a symmetrical triangle chart pattern, implying that further gains can be expected. Get your $GBPUSD technical analysis from @MartinSEssex here: https://t.co/tsEeGa8kAd https://t.co/yOhxlK2crH
  • Have to say, the $GBPUSD's observation of the 200-day moving average is convenient for tech observers. Also helps that it is almost horizontal https://t.co/8DGvfn5nkx
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.01%, while traders in US 500 are at opposite extremes with 74.83%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Jxm2ZcDEKN
Video: Different Extremes for Dollar, Yen, Equities and Gold

Video: Different Extremes for Dollar, Yen, Equities and Gold

2016-05-07 00:55:00
John Kicklighter, Chief Strategist
Share:

Talking Points:

  • Extremes do not signify an immediate exhaustion and a reversal of conditions - extremes can grow more extreme
  • The Dollar rounded up from an 11-month low to charge its strongest four-day rally since November's peak
  • For positioning, futures speculators hit a record long-gold view while the Yen stands near similar extremes

See the DailyFX Analysts' 2Q forecasts for the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

Extremes aren't always measured in highs and lows for price and value. Coming off a relatively mild week for event risk, trend development and volatility; it would seem that the seas are steady. However, a serene surface often masks remarkable imbalance that eventually erupts into significant movement. Through the close of this past week, a number of exceptional developments materialized. A strong upswing for the USDollar from an 11-month low offered an incredible price reaction to the weightiest retail forecast in nearly two-years. Underlying this quick swing, though, is a far more profound speculative view. For the Japanese Yen, extreme conditions risk triggering an equally disruptive intervention by policy officials. From risk trends, the reach for yield against an increasingly unsteady complacency is illustrated through price, cross-market conditions and VIX positioning. Finally, an outright extreme in gold positioning suggests the commodity's measured pace may not last for long. We focus on the extreme conditions behind the Dollar, Yen, 'risk' and gold in this weekend Strategy 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.