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
Bullish
GBP/USD
Bullish
USD/JPY
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
Oil - US Crude
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
Bitcoin
Bullish
More View more
Real Time News
  • Heads Up:🇺🇸 USD Leading Index (SEP) due at 14:00 GMT (15min), Actual: N/A Expected: 0.1% Previous: 0.0% https://www.dailyfx.com/economic-calendar#2019-10-18
  • US tariffs on $7.5B of imports from the EU goes into effect today (10% on large commercial aircraft, 25% on other agrigultural and industrial goods). France’s MoF Le Maire, who meets with USTR Lighthizer today, says ‘Europe is ready to retaliate’ if Trump admin levies the duties.
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -0.19% Wall Street: -0.26% Germany 30: -0.26% France 40: -0.89% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/3PGvJsU4TR
  • $EURUSD made a confirmed break above the 50-day moving average (blue line on chart) at the start of this week, for the first time since mid-July, Get your EUR/USD market update from @nickcawley1 here: https://t.co/2lAHzsA3BX https://t.co/pxldqpztWT
  • RT @OJRenick: Retail tanking this morning https://t.co/tZpoXjraU3
  • RT @carlquintanilla: GOLDMAN: 1. “CEO confidence has plunged.” 2. “Companies spend less cash when policy uncertainty is high.” https://t…
  • Want to short currency? How can you do it in the #forex market? Find out from @WVenketas here: https://t.co/4Hv97l81jN https://t.co/M7YqAaGIaH
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.23%, while traders in US 500 are at opposite extremes with 75.05%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HjlR4kWArI
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.39% 🇦🇺AUD: 0.33% 🇪🇺EUR: 0.18% 🇯🇵JPY: 0.11% 🇬🇧GBP: 0.02% 🇨🇦CAD: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Dymy57Nnme
  • Germany's Scholz urges Europe to stay cool and avoid new escalation in repose to new US tariffs $EUR
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, Currency 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.