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. See our updated Privacy Policy here.

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
More View more
Real Time News
  • RT @BrendanFaganFx: 77 counterparties take $1.352 trillion at Fed's fixed-rate reverse repo $USD $DXY https://t.co/kjecsXvpVU
  • EUR/USD attempts to halt a five day decline as the Federal Reserve sticks to the sidelines. Get your market update from @DavidJSong here:https://t.co/ig9bGLj35i https://t.co/YPksmNdJLR
  • US Markit Composite PMI for September fell to 54.5 from 55.4, whereby the services and manufacturing figures fell to 54.4 and 60.5 respectively, both missing analyst estimates. Get your market update from @JMcQueenFX here:https://t.co/4lFZGRufsM https://t.co/DuPcQtaBz0
  • S&P 500, Nasdaq Rally After the Fed; 10 Year Yield to Two-Month-Highs https://www.dailyfx.com/forex/market_alert/2021/09/23/SPX-SPY-ES-SP500-Nasdaq-NQ-QQQ-Rally-After-the-Fed-10-Year-Yield-2-Month-High.html https://t.co/peftVleO0y
  • #Bitcoin Outlook: $BTCUSD Bounce From 40K, Fake-out or Shake-out? - https://t.co/ixsRMKgCom https://t.co/KDQv4wgfot
  • While JPY gets clobbered, CHF decides to turn a blind eye to yields $CHF https://t.co/MViWZiiPZ7
  • The surprise 100 basis point cut from the Turkish central bank (to 18%) generated the expected pressure for $USDTRY. That said, I don't think it was the market that decided the momentum should die out at 8.8000 again... https://t.co/4jmOPnzzK9
  • surprised that $NQ is holding up so well with what rates are doing. 10 year yield at a 2 month high, $Nasdaq still holding resistance at prior support https://t.co/UBWBxY2nFC
  • The S&P 500 has recovered all the ground it lost at the start of the week and the Dollar has slumped post FOMC and PMIs. DailyFX's @JohnKicklighter gives a brief overview of the market for Thursday! https://t.co/jihKB44ELn
  • https://t.co/lbNvVbQq4n
Webinar: Markets Likely to Keep Trends Intact for Now (DAX, S&P 500, DXY, Gold)

Webinar: Markets Likely to Keep Trends Intact for Now (DAX, S&P 500, DXY, Gold)

Paul Robinson, Strategist

Join me next Wednesday (12/28) for the year’s final session, where we will take a look ahead to January.

In today’s session, we discussed the quiet market conditions which are upon us with the holiday season going into full swing. Several trends into year-end are poised to remain intact in the absence of a good reason for a significant reversal.

Looking at the US Dollar Index (DXY), it’s at elevated levels, but looks headed for sustaining a bid on dips until the calendar flips. EUR/USD is trading below key long-term resistance and likely headed lower with top-side levels to keep it subdued. AUD/USD, NZD/USD have made strong moves, breaking good support levels, which now turns those into resistance. There is still room to the downside, keeping those two pairs front and center. USD/JPY is caught between pretty solid resistance and support. It’s likely to stay bid, but has its work cut out for it near 119 if it’s to continue higher. In the 116 area lies support. EUR/AUD is a cross we have been watching closely in recent weeks; a bearish descending wedge is still taking shape, but unlikely to break through the bottom-side (if it is to do so) until January.

Gold remains weak and has a short-term line of resistance which has received good price action around. Looking for it to maintain below for further weakness. Yesterday, silver looked headed to enter another air pocket below 15.80 and headed towards sub-15 levels, but reversed course as it broke lower. The reversal day was an excellent example of why waiting for a the close of a bar below support or above resistance is prudent when looking for a breakout beyond key levels.

Crude oil found support on the Feb trend-line recently, back above intermediate-term levels. It’s a bit indecisive here, we will need to wait for further developments before drawing any concrete conclusions.

Global indices remain well-bid and are likely to stay so through year-end. Any dips which develop in the Nikkei, DAX, FTSE 100, and S&P 500 will in all likelihood be met with buyers in the absence of a catalyst to turn their trends.

Beginner and Advanced Trading Guides

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES