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
Mixed
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
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.41% Germany 30: 0.36% FTSE 100: 0.34% US 500: -0.05% Wall Street: -1.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fFsUz2EvOi
  • The US Dollar is continuing to strength today. The $DXY has risen above the 90.80 level to its highest point since last Wednesday. $USD https://t.co/OFWBlH3loM
  • quite the reversal in commod currencies over the past two days. $USDCAD from falling wedge support to resistance. this tl held a number of inflections earlier this month, now being tested through https://t.co/O2zqFkYz9Y https://t.co/Rljf0c6JE3
  • $USDCHF rose to trading above the 0.9100 level for the first time since November. $USD $CHF https://t.co/afJSa3Ap5h
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.86%, while traders in GBP/JPY are at opposite extremes with 67.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7CenEe3hcL
  • Hey traders! Wrap up your week with a quick market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/9Sfqv1U0TJ
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -2.02% Gold: -2.70% Silver: -4.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pOc7rwbN4x
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.41% 🇬🇧GBP: -0.45% 🇨🇭CHF: -0.51% 🇨🇦CAD: -0.76% 🇳🇿NZD: -1.57% 🇦🇺AUD: -1.85% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wtEBvYAAG2
  • A pullback off confluence uptrend support threatens a larger pullback here but keeps the broader trade constructive while within this formation. Get your $btc market update from @MBForex here:https://t.co/ScHuboiZRB https://t.co/gNiGelWKTM
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.49% France 40: 0.47% Germany 30: 0.45% US 500: 0.28% Wall Street: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/4LwfSsKX6u
Dollar Digestion: Price Action Setups

Dollar Digestion: Price Action Setups

James Stanley, Senior Strategist

If you’d like to join our price action webinars, you’re more than welcome to join. James Stanley holds price action-based webinars on Tuesdays at 1PM ET, and on Thursdays at 2PM ET. To sign up for either, please click on the relevant link below to register:

- Sign up for James Stanley’s Tuesday webinars (1PM ET)

- Sign up for James Stanley’s Thursday webinars (2PM ET)

- 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 (SSI) Indicator.

- In this webinar, we used price action to look across markets as the U.S. Dollar’s longer-term posture remains rather congested.

- We started off by looking at what could bring back bullish scenarios for the U.S. Dollar, and a sustained top-side break over 101.53 could offer such an occurrence in DXY. However, until then, traders should remain nimble with little expectation for trend-continuation on USD-related setups.

- We then moved over to EUR/USD, which put in a decent top-side reaction off of the support zone around 1.0500 from earlier in the week. Despite this rather clean move, the fact that sellers have begun to show up – setting up near-term resistance around prior support; this would suggest that we may not have yet seen the low in EUR/USD. Patience should be utilized on bullish strategies, while bearish strategies will likely want to contain down-side targets above 1.0500.

- We then looked at GBP/USD. For more information behind this setup, please check out our article published earlier in the day entitled Cable Congestion, Rally to Resistance.

- We then moved over to AUD/USD as a potential long-USD setup. AUD/USD has been running in a longer-term zone of resistance that makes up the top-side of a range that’s been active for almost a full year now. We had issued an analyst pick on the same setup earlier today, and that can be located at the following link.

- We looked at NZD/USD next, and the resistance level of .7335 is extremely attractive for potential short positions.

- We then moved over to USD/JPY. Given the lack of excitement to the bullish side of this setup, this would be further evidence that this recent bout of USD-strength in early February has probably less to do with rate hike fears rather than de facto USD-strength. Nonetheless, the more shallow retracement in January (as opposed to isolated DXY) would indicate continued bullish potential. The way that price action responds to this big zone of support from 111.61-112.40 could be very telling for the timing of that next trend-side entry.

- On the Yen side, we then moved over to EUR/JPY, which just put in an impressive element of support on an interesting level around ¥118.50. We discussed this setup yesterday in the article, Break Down to a Big Level.

- We then looked at GBP/JPY trading deeper into a wedge formation. For more information behind this setup, please refer to our article from yesterday entitled, Deeper into the Wedge.

--- 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