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  • The Japanese Yen remains in focus with strength potential on risk aversion themes to go along with weakness on themes around higher rates. Get your weekly $JPY technical forecast from @JStanleyFX here: https://t.co/l4UICqJzJy https://t.co/dQ2pS0E4fp
  • Google finance-related search interest in 'Evergrande' has almost overtaken 'Covid'. 'Taper' doesn't even register on the scale https://t.co/P6H9sHFVIB
  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:https://t.co/l4kAWDJ2wm https://t.co/b9m5ADIqqb
  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:https://t.co/TK3MNntBdA https://t.co/14UKjR4w6M
  • GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt. Get your market update from @HathornSabin here:https://t.co/3D8s2eIVWv https://t.co/JDGNwKYyOn
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sIauS https://t.co/JIT5it2HAt
  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here: https://t.co/g9QvH3L4It https://t.co/Vz98E0Bl9U
  • Gold has been trending lower after failing to clear resistance in the $1835 area earlier this month. Get your $XAUUSD market update from @DColmanFX here:https://t.co/3hm1g3BHgf https://t.co/MdTQKEBCBx
  • Key break here in the 10-year #Treasury yield as it rises to the highest since late June Took out 1.4230 resistance, and the 100-day SMA Eyes now on the 38.2% Fib extension at 1.4775 Also potential falling resistance from March https://t.co/4cI6l210ui
  • The move in rates after this week’s FOMC has continued and the 10 year yield has pushed up to a fresh two-month-high. Get your market update from @JStanleyFX here:https://t.co/CRWhuZ3sxD https://t.co/svHHqN2Zz8
Webinar: NFP Preview (12.1.2016)

Webinar: NFP Preview (12.1.2016)

James Stanley, Senior Strategist

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- In this webinar, we used price action to look at U.S. markets ahead of tomorrow’s Non-Farm Payrolls report out of the United States. If you’d like to read more about what to look for ahead of tomorrow, please check out our Market Talk article from this morning entitled, NFP Preview: The First Test of Post-Trump Data.

- We first looked at the current posture of the U.S. Dollar after the currency surged to fresh 13-year highs during the month of November. Given that the Greenback is staying perched next to resistance, this can make going into the release with outsized exposure a difficult prospect. However, traders can use the reaction to the NFP print in the effort of lining-up longer-term setups, as we look at below.

- If NFP comes out above the 175k expectation, we’ll likely see some element of USD strength. But given a strong batch of longer-term resistance just above current prices, we may need a significant beat to really drive beyond that resistance. If we see price action in the Dollar move up to resistance with sellers entering the fray (which could be likely with a print between +175k to +200k, this can open the door for short-USD exposure in markets that have been previously strong, such as GBP/USD or NZD/USD. If you’d like to read more about the context around the GBP/USD setup, please check out our technical article from yesterday entitled, Bouncing in a Fibonacci-based Range.

- The converse scenario may be more interesting for long-term strategy. With USD remaining so exuberantly strong, there has been little chance to load-in on the long-side of the move. Should NFP come out below expectations tomorrow, this could bring on some element of USD-weakness that could open the door to bullish continuation setups in the Greenback. For that purpose, we looked at both USD/JPY and USD/CAD as potential options. For more information behind the USD/JPY setup, please check out our article from earlier in the week that could become even more relevant with this scenario tomorrow entitled, JPY: How to Work With the Trend that Barely Bends.

--- Written by James Stanley, Analyst for DailyFX.com

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