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
Bearish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
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
GBP/USD
Mixed
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
  • AUD/USD has had the most impressive show of trend over the past couple of months with the pair gaining almost 1500 pips from the March low. Get your $AUDUSD technical analysis from @JStanleyFX here: https://t.co/vLz4Rpln3u https://t.co/AOwnJja5V8
  • Has the #Euro been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/AyRiYpb4cN
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/ygwjGNvS61
  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/THWhPAS6AM
  • The price of #gold plunged 1% immediately after the stunning US jobs report crossed the wires. Get your market update from @RichDvorakFX here: https://t.co/8i0L6YIqjy https://t.co/y9dIXazJf9
  • S&P 500, Dow Jones, Nasdaq explode higher with stocks surging in response to shockingly better-than-expected monthly jobs data. Get your #equities market update from @RichDvorakFX here: https://t.co/nuMVWOzzuC https://t.co/M3nGBjd7kZ
  • The record-breaking NFPs increase behind us and the FOMC rate decision on Wednesday sets the tone for my trading video: 'Dow Soars Above 200-Day Average on NFPs, Will the #Fed Keep the Dollar Sliding' https://www.dailyfx.com/forex/video/daily_news_report/2020/06/06/Dow-Soars-Above-200-Day-Average-on-NFPs-Will-the-Fed-Keep-the-Dollar-Sliding.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/kquvec5HVc
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/OsaphmqEmu
  • Are recent gains in the Indian Rupee and Nifty 50 warranted? Risks are brewing in the background, leaving USD/INR in a consolidative setting as the Nifty pressures resistance. Get your $USDINR market update from @ddubrovskyFX here:https://t.co/svDaSdprvN https://t.co/kgddX1ZHe4
  • I approve of this dry humor. https://t.co/b42GmIZDlL
USD, Gold, SPX Price Action Setups (11.15.2016)

USD, Gold, SPX Price Action Setups (11.15.2016)

2016-11-15 20:26:00
James Stanley, Strategist
Share:

USD, Gold and SPX Price Action Setups - Webinar from November 15, 2016

To receive James Stanley’s Analysis directly via email, please sign up here.

- In this webinar, we used price action to look at the post-Election rallies that have been seen across global markets. Specific emphasis was placed on USD-related markets along with the various scenarios that traders may be able to look at/for in the coming months.

- We started off with USD/CHF as a USD-weakness candidate. The pair has been working with a rather rigid long-term zone of resistance, and of recent has just perched above that resistance to set a fresh 8-month high. But, if the Dollar sees resistance and begins to give back some of the move, the setup in Swissy could be an attractive way to look for that USD-weakness. We discussed the setup at more length in the article, Vigorous Bounce Off of Support.

- We then moved on to look at a possible top-side move in GBP/USD. While the Dollar has been rampantly strong with the post-Election backdrop, GBP/USD has continued to put together a bullish formation on the daily and 4-hour charts. Given that this move is happening after the Bank of England nudged inflation expectations lower, this top-side move could be emblematic of a ‘bigger picture’ move, particularly in the event of USD-weakness. Last week, we asked of GBP/USD whether a ‘New Trend (was) Setting In,’ and follow-thru information has been supportive of that thesis, thus far.

- On the USD-strength side of the equation, we first looked at USD/JPY, as the prospect of continued divergence between these two economies’ Central Banks could continue further. The difficulty with entering USD/JPY at the moment is the fact that the recent movement has been pretty much straight-up with little retracement to use for stop placement. We had discussed potential support levels for bullish re-entry in this morning’s Market Talk entitled, As Election Euphoria Fades, Attention Averts Back to the Fed.

- We also looked at USD/CAD for USD-strength scenarios, as the prospect of continued monetary divergence exists here, as well, particularly in the event of an extended run in the Greenback.

- We then moved on to look at Gold. Gold appears to be attempting to carve out support, but just below current support is a critical long-term Fibonacci level at $1,200. To read more about the current setup in Gold, please check out our article, Gold Prices Rush Towards Pivotal Support Zone.

--- 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

News & Analysis at your fingertips.