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
Oil - US Crude
Bearish
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
Bullish
GBP/USD
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
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
  • After the pattern is composed with the closing of the signal candle, then you can look to the following candle to identify a clear bias and risk points. Learn how to apply this knowledge to a trading strategy here: https://t.co/uh3NwgHBVv https://t.co/dUx38k6I6N
  • Weekend Wall Street futures - courtesy of @IGcom - shows the #DowJones down almost -1% heading into Monday's Asia Pacific trading session. This May spell a cautious "risk-off" tilt as the week gets going [delayed] - https://t.co/0ZvPJNGV7q https://t.co/iMhNyyGq0R
  • RT @NYGovCuomo: New York State on PAUSE is extended to April 15. That means the non-essential workforce is directed to continue to work fr…
  • Why is the Strait of Hormuz the world's most important #oil chokepoint? Find out from @JMcQueenFX here: https://t.co/0UPiGgqHbW #OOTT https://t.co/yt072tbesk
  • RT @Saida_Zahidova: The Global Oil Market Is Broken: 🛢#coronavirus have cut global oil consumptions by up to 25% 🛢The collapse in air tra…
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
  • The bear flag pattern is a popular price pattern used by technical traders within the financial markets to determine trend continuations. Learn how to spot a bear flag pattern here: https://t.co/zg8QzS3ytS https://t.co/YCaLqdfrdt
  • How can you trade #forex after a major release? Find out: https://t.co/sdxcXb8q60 #tradingstyle https://t.co/WologbxICe
  • RT @tracyalloway: Deutsche Bank's index of early U.S. economic indicators has "essentially gone into free fall indicating data which is abo…
  • Why must financial market traders monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/j9U8O9Ud5w
Tech Outlook Ahead of and Beyond NFPs: DXY, EURUSD, Gold, SPX & More

Tech Outlook Ahead of and Beyond NFPs: DXY, EURUSD, Gold, SPX & More

2017-01-06 11:46:00
Paul Robinson, Strategist
Share:

You can join Paul every Wednesday and Friday at 10 GMT for "London FX & CFD Trading". See the DailyFX Webinar Calendarfor the full schedule.

In today’s webinar, we did a quick NFP preview, but looked at several charts of interest which extend beyond the NFP game-plan. The US dollar has made a sudden turn lower after the DXY pushed to new 14-yr highs. The near-term technical structure suggests more room to the down-side, which following today’s NFP release could be the case.

The Euro has overtaken some key levels the past couple of days and looks headed higher. AUD/USD and NZD/USD have been eyed as potential shorts, but for now holding off as general dollar weakness isn’t supportive of this idea. USD/JPY is in a precarious spot as it hangs out around 116.

Gold has rebounded quite strongly in recent trade and looks headed towards the 1190/1200 area in the very near future. How it responds upon reaching this zone, if it does, will be key moving forward. Silver is also bumping higher, but not with the same vigor as gold; resistance clocks in around the 17 line.

WTI crude oil is a choppy market right now, but leaning higher as long as support not far below in the ~51/52 area.

Global equity indices are holding their bids, looking poised for higher prices at this time. The Nikkei 225 has its eyes on the 20k mark. The DAX is consolidating well so far in recent trade. Top-side levels could soon be tested. The FTSE 100 has been extremely persistent, and should it retreat a bit there is support at its old record highs not far below at just above 7100. The S&P 500 appears to be building a base from which it could carve out new record highs soon.

For trader education, see our 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

News & Analysis at your fingertips.