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
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • The US Dollar is stronger this morning following yesterday's market volatility. After falling to a nearly two month low below the 90.00 level early yesterday, the $DXY has resurged to a one week high, currently around 90.60. $USD https://t.co/vM9Kuq2tjV
  • Heads Up:🇺🇸 Goods Trade Balance Adv (JAN) due at 13:30 GMT (15min) Previous: $-82.47B https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇺🇸 PCE Price Index MoM (JAN) due at 13:30 GMT (15min) Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.06% 🇨🇭CHF: -0.18% 🇨🇦CAD: -0.34% 🇬🇧GBP: -0.61% 🇳🇿NZD: -1.07% 🇦🇺AUD: -1.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XoinmY8IKD
  • Heads Up:🇺🇸 Core PCE Price Index MoM (JAN) due at 13:30 GMT (15min) Expected: 0.2% Previous: 0.3% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇺🇸 Personal Spending MoM (JAN) due at 13:30 GMT (15min) Expected: 2.5% Previous: -0.2% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇺🇸 Personal Income MoM (JAN) due at 13:30 GMT (15min) Expected: 9.5% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇺🇸 PCE Price Index YoY (JAN) due at 13:30 GMT (15min) Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇺🇸 Core PCE Price Index YoY (JAN) due at 13:30 GMT (15min) Expected: 1.4% Previous: 1.5% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/OD2HjojJ9f
Webinar: USD at Support (Old Resistance) - Price Action Setups

Webinar: USD at Support (Old Resistance) - Price Action Setups

James Stanley, Senior Strategist

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

The U.S. Dollar is currently working on a retracement after the massive November breakout ran to a long-term level of resistance at 101.80. With near-term price action in the U.S. Dollar currently showing support near an area of old resistance (the previous 13-year highs, which also came-in as a double-top), and the prospect of continuation plays exists. We extrapolated by looking at various pairings with which traders may want to plot for a USD-continuation move versus those that they may want to look for continued USD-weakness.

- On the USD-strength side of the coin, we looked at USD/JPY, AUD/USD and USD/CAD. With the USD-weakness scenario, setups in NZD/USD, GBP/USD and USD/CHF are attractive.

- For USD/JPY – the big risk is that the trend has run too far, too fast. But despite the USD pullback over the past week, USD/JPY has remained well-supported, highlighting the fact that we’ve seen Yen-weakness continuing as a prevailing theme, even when USD-strength hasn’t been able to continue pushing the pair-higher.

- For AUD/USD – this would be a shorter-term setup, using the psychological level at .7500 as a basis for risk, with targets set towards .7330 and then the confluent zone around .7200.

- For USD/CAD – currently at an interesting level of support at 1.3250. This is a major psychological level, as well as being the swing-high in July and again in September. Targets on top-side positions would likely want to take into account prior support around 1.3400 before looking for a continuation move beyond that.

- For NZD/USD – the long-term zone of support between .6950-.7050 continues to hold support in the pair as it has for much of the summer. Until this zone breaks, traders would likely want to approach with some element of a bullish bias; as we’ve seen an extremely dovish RBNZ with even a rate cut over this summer, yet support has continued to hold price action.

- For GBP/USD – The British Pound has been exuberantly strong throughout November, even stronger than the U.S. Dollar as the currency was staging fresh 13-year highs. This is likely a reverberation from the massive movement in GBP/USD around this summer’s Brexit referendum, in which the currency staged a -20% deluge, which will likely end-up leading to stronger inflation in the months/years ahead.

--- 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