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
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:https://t.co/Txo8l8S1f1 https://t.co/YLVzP95JH8
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here: https://t.co/qxnP99uqTQ https://t.co/tGVqSZ2zK3
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here: https://t.co/yXLaRpl90I https://t.co/reMoYpqkQO
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/sqeRL7Rf7u
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here: https://t.co/h7BKTd2J8N https://t.co/ukOW0dWJxf
  • Beautifully put. https://t.co/0fBsmUH6Pb
  • Gold prices could claw back lost ground ahead of the non-farm payrolls report for November, buoyed by a dovish FOMC, falling real yields and rising inflation expectations. Get your $XAUUSD market update from @DanielGMoss here:https://t.co/3mqut0yQIQ https://t.co/nfyycibwKM
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/UWnLJHVPN4
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here: https://t.co/6ZH026QLRN https://t.co/JJIyKh8r1l
  • That if you’re offended by what someone says on Twitter and that ruins your day, you live an extremely lucky life to be able to have that be your biggest problem for the day. https://t.co/H9KQjR3ViK
Webinar: Price Action Setups in GBP, CAD, DXY

Webinar: Price Action Setups in GBP, CAD, DXY

2017-01-24 20:30:00
James Stanley, Strategist
Share:

- If you’re looking for trading ideas, check out our Trading Guides. And if you’re looking for ideas that are more short-term in nature, please check out our Speculative Sentiment Index Indicator (SSI).

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

- In this webinar, we used price action to look at macro markets in the effort of lining-up trades for the next few weeks. The focus for today’s webinar was GBP and CAD, as each of these currencies has seen volatile moves in the early portion of this week.

- We started off with GBP/USD as the pair is rallying after this morning’s U.K. Supreme Court Ruling. The pair is currently at resistance, but this recent bullish move highlights the prospect of top-side continuation. We looked at two ways of trading long Cable, using both ‘inside’ and ‘outside’ price action.

- We then took a look at the U.S. Dollar for the purposes of metering these positions in the majors. The U.S. Dollar (as represented by ‘DXY’) is currently in a batch of support around the 50% retracement of the post-Election move. As long as the Dollar stays above this zone of support, the bias would be bullish, and this can open the door for long setups in USD/CAD.

- The Canadian Dollar put in a move of strength this morning after USD/CAD has run into a level of resistance yesterday. But we’ve seen multiple tests and bounces off of the 1.3000 level in the recent past, and traders can take a similar stance as with the U.S. Dollar, investigating bullish strategies as long as price action remains above support.

- We then moved over to look at cross-pairs in GBP/CAD and CAD/JPY; with each pair showing the potential to break out of previously-bearish price action. CAD/JPY may be a bit closer to being in a bullish state, but in the webinar we looked at multiple mannerisms for approaching each.

--- Written by James Stanley, Strategist 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