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
EUR/USD
Bullish
Oil - US Crude
Bullish
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
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
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
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/xqbUxwWgTZ
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/Gi8LHCT5sB
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/FFmRYyx4ou
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/r7aJb4qpqc
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/fIGDaDW21V
  • ...even more incredible is net speculative futures positioning in $EURUSD, rounding off from a record net long position...and it hasn't even cleared 1.20... https://t.co/SfyYTMTT1x
  • Net speculative futures positioning in the Dollar (here overlaid with the $DXY) has pushed to extreme levels commensurate to the levels in Oct 2017 and April 2018 https://t.co/JqHGgVUCqc
  • The $SPX closed below the 50-day moving average Friday. The first time it has done so in 103 trading days. The 'technical' end of an exceptional run: https://t.co/HUn5Q6JmlK
  • Despite recent weakness in the #SP500, the growth-linked New Zealand Dollar has been gaining momentum ahead of the #RBNZ next week Could this trend continue, or will $NZDUSD capitulate to the mercy of risk trends? Check out my fundamental outlook - https://www.dailyfx.com/forex/fundamental/forecast/weekly/nzd/2020/09/19/New-Zealand-Dollar-Outlook-NZDUSD-May-Rise-on-RBNZ-Watch-SP-500.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/34vcR4fjpT
  • RT @FxWestwater: #Copper rose to a fresh multi-year high as Chinese demand and supply-side issues continue to support price action amid a l…
BoJ & FOMC Price Action Preview

BoJ & FOMC Price Action Preview

2016-09-20 18:47:00
James Stanley, Strategist
Share:

Talking Points

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

- In this webinar, we used price action to analyze major FX markets ahead of a major Central Bank decisions out of Japan, the United States and New Zealand.

- We first went over the Bank of Japan and the Japanese Yen, which we had also discussed this morning in the article, BoJ Preview: ‘Comprehensive Assessment’ to Set the Tone. At this meeting, the Bank of Japan has previously said that they were going to offer a ‘review’ of current monetary policy framework, and this could give markets an indication of how the BoJ may be looking to move moving forward. This could, potentially, open the door for another increase to their stimulus program; or it could highlight that the BoJ is looking to change the pace of their approach given the apparent diminishing marginal impact of additional QE.

- We started off by looking at the technical formation in USD/JPY, and given that tonight’s BoJ meeting presents an absolute risk, the longer-term support found around the ¥100.00-level could be appealing for top-side plays. We discussed the technical formation in yesterday’s Market Talk, and you’re certainly welcome to check that out by clicking on this link.

- We then moved around the Yen-complex in the effort of finding candidates for both Yen strength and Yen weakness. For Yen strength we looked at GBP/JPY, while for Yen weakness we looked at AUD/JPY, EUR/JPY and NZD/JPY.

- We also previewed tomorrow’s FOMC announcement, in which the general expectation appears to be for a recursion of last September’s FOMC announcement in which the bank posed a ‘hawkish hold’ scenario. Last year, stocks initially rallied on news of no rate hike, only to reverse aggressively as the Fed took on a hawkish stance towards hikes in the remainder of the year.

--- 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.

DISCLOSURES