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
Subscribe
Please try again
EUR/USD
Bullish
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.37% 🇬🇧GBP: 0.28% 🇨🇦CAD: 0.22% 🇦🇺AUD: 0.20% 🇳🇿NZD: -0.01% 🇯🇵JPY: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/w8k6crbNv8
  • $AUDJPY has slipped back below 80.00 after climbing above that level earlier today for the first time since last week. $AUD $JPY https://t.co/2tj15alv5P
  • Join @JStanleyFX 's webinar at 1:00 PM EST/6:00 PM GMT where you can learn more about trading price action. Register here: https://t.co/ZCcMdyaTsB https://t.co/5HCzKlchwL
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: US 500: 0.22% Wall Street: 0.13% FTSE 100: 0.09% France 40: -0.01% Germany 30: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/3JhWDgSvvW
  • #Bitcoin is rising higher, trading around $37,500, hitting its highest level of the trading week. The cryptocurrency had encountered resistance around this level over the weekend. $BTC https://t.co/HUwnEtrqDZ
  • The latest ZEW readings for both the Euro Area and Germany came in better than expected this morning, giving the single currency a nudge higher. Get your #Euro market update from @nickcawley1 here:https://t.co/EWUnpKbMex https://t.co/zDtS6HZHxw
  • #Gold has been mostly consolidating slightly around $1,840 this week, trading slightly lower than last week's levels. $XAU $GLD https://t.co/YwNC79nl9c
  • Treasury Sec. nominee Yellen: - I believe in market-determined exchange rates - The US does not seek a weaker currency to gain a competitive advantage - Intentional targeting of exchange rates to gain an advantage is unacceptable $USD
  • Treasury Sec. nominee Yellen: - China is our most important strategic competitor - Need to work with allies and strengthen our own economy to compete - We need to take on China's abusive, unfair, and illegal practices $USD $CNH
  • Treasury Sec. nominee Yellen: - I believe in a fair and progressive tax code - Wealthy corporations and individuals should pay their fair share $SPY $USD
Splitting the Dollar Whilst at Highs: Bullish/Bearish USD Setups

Splitting the Dollar Whilst at Highs: Bullish/Bearish USD Setups

James Stanley, Strategist

Splitting the Dollar While At Highs: Bullish and Bearish USD Setups

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

- In this webinar, we used price action to look at setups around the U.S. Dollar as the currency was surging to a fresh 13-year high. As we had looked at, traders can use this new high to line up setups on either side of the Dollar in order to position-in for the weeks ahead.

- We first looked at the short side of USD, and we looked at the difference in setups showing in USD/CHF and GBP/USD. While the Dollar is surging to 13-year highs, USD/CHF is testing the 8-month high, illustrating additional strength being seen in the Franc at the moment. But GBP/USD is working on a higher-low on the 4-hour chart. Should USD-strength recede, this can be an extremely attractive setup. To read more about the setup, please check out our article from earlier today entitled, GBP/USD Technical Analysis: Is This the Higher-Low? To read the analyst pick related to this setup, please click here.

- We also looked at a long-term support zone in NZD/USD. This zone between .6950-.7050 has held the lows in the pair since June, and with price action moving down there, a long setup could be sought once support actually confirms.

- We then moved on to the long side of the Dollar, first looking at USD/JPY and the prospect of even further new highs. The pair has just run into a major psychological level at 110.00. Given the veracity of the move over the past 9 days (over 800 pips), traders would likely want to wait for a cleaner element of support to show before looking to add additional long USD/JPY exposure. We highlighted a few areas to watch for such an observation.

- We also looked at USD/CAD as a long-USD candidate. This pair hasn’t been as strong of recent as USD/JPY, but the motivation is the same: In a long-USD scenario, there is a legitimate prospect of monetary divergence between the parent economies’ Central Banks. We highlighted a support zone to watch for on USD/CAD.

--- 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