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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
More View more
Real Time News
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.00% 🇯🇵JPY: -0.00% 🇦🇺AUD: -0.13% 🇬🇧GBP: -0.20% 🇨🇭CHF: -0.31% 🇪🇺EUR: -0.31% View the performance of all markets via
  • BFM TV reports blast heard in Paris was a plane breaking sound barrier
  • Reports of a Major Blast Heard in Paris
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.23% France 40: -0.48% Germany 30: -0.49% US 500: -0.51% Wall Street: -0.55% View the performance of all markets via
  • Don't fight the SNB
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • 🇮🇹 Inflation Rate YoY Prel (SEP) Actual: -0.5% Expected: -0.4% Previous: -0.5%
  • 🇮🇳 Current Account (Q2) Actual: $19.8B Previous: $0.6B
  • Heads Up:🇮🇳 Current Account (Q2) due at 09:00 GMT (15min) Actual: $19.8B Previous: $0.6B
Trading Outlook Ahead of FOMC: DXY, Gold/Silver, Crude Oil, S&P 500 & More

Trading Outlook Ahead of FOMC: DXY, Gold/Silver, Crude Oil, S&P 500 & More

2017-03-15 11:27:00
Paul Robinson, Strategist

Paul conducts webinars Tuesday – Friday each week. For details and a full line-up of upcoming live events, please see the DailyFX Webinar Calendar.

The US Dollar Index (DXY) in recent trade broke its multi-week sequence of higher lows and higher highs, putting it in a precarious position ahead of today’s FOMC rate announcement. With the market expecting a 25-bps increase it would seem an ultra-hawkish Fed would be required to push it higher. If the technical formation, what we focused on, has anything to say – it’s that USD is heading lower.

Our biggest interest lie in long EURUSD or short USDCHF positions if dollar weakness sets in. USDJPY has an intriguing set-up from the short-side, and is also high on the USD short radar. GBPUSD is still acting too weak for our taste as a long, but given the proximity of major support, risk/reward doesn’t look good either for a new short.

We also took a look at cross-rates – EURAUD, EURJPY, GBPJPY, GBPAUD, EURGBP, AUDNZD, USDMXN, and others…

With the notion of USD weakness in mind, precious metals – gold & silver – could find a bid towards noted resistance levels around 1217/low-17s. The broader bias is for lower prices once any bounce which may develop starts to roll over.

Crude oil put in a key reversal bar yesterday after coming down to support. A bounce in the near-term may develop, but overall lower prices still look like the most probable scenario.

The S&P 500 is holding onto a confluence of important trend-line support, while the Nasdaq 100 puts in a high-level consolidation; bias if for higher prices as long as support continues to hold. The DAX is putting trend-line support to the test, but as long as it holds a constructive outlook remains. The FTSE 100 is caught between lines of support and resistance, but as the case with the other indices we are still giving respect to the trend and support levels.

For full technical considerations, please see the video above.

Trading Ideas and 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.