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
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
GBP/USD
Bearish
USD/JPY
Bullish
Gold
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
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/jtZTvodpCt
  • The price of oil preserves the advance following the OPEC meeting as the US and China, the two largest consumers of crude, reach a trade deal. Get your crude #oil market update from @DavidJSong here: https://t.co/g5lxDaRvWL #oott https://t.co/yeelVJU5OK
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/mk1w1DM2Rh https://t.co/rEVhCnC0vY
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/I1AA0UEyWq
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/o4zt4pmSzc
  • The $USDINR may fall as the Nifty 50 rises after the US and China avoided tariff escalation and Indian CPI increased at its fastest pace since July 2016 amid on onion shortage. Get your market update from @ddubrovskyFX here:https://t.co/iXLf98geXL https://t.co/uVwbkkkl09
  • My weekend trading video: 'A #Dow and Yuan Retreat Could Break 2019's Bullish Complacency' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/14/A-Dow-and-Yuan-Retreat-Could-Break-Break-2019s-Bullish-Complacency.html?CHID=9&QPID=917719
  • The $USD may extend declines against its ASEAN counterparts after the Fed rate decision. The Philippine Peso and Singapore Dollar are attempting key technical breakouts. Get your market update from @ddubrovskyFX here:https://t.co/JoPLb4Oi2q https://t.co/fKzeBlWaCx
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/Mf9e1cgWmR
  • The #Euro jumped higher to challenge range resistance capping upside progress since mid-October. Signs of ebbing momentum warn it may be back on defense soon. Get your market update from @IlyaSpivak here: https://t.co/MGqVDEWhUD https://t.co/rQRxJAmLWi
post-FOMC, BoJ, SNB, BoE Price Action Setups

post-FOMC, BoJ, SNB, BoE Price Action Setups

2017-03-16 20:02:00
James Stanley, Currency 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 (SSI) Indicator.

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

- The past 24 hours have produced quite a few moves across the FX market as Central Banks from the United States, Japan, Switzerland and the United Kingdom all hosted rate decisions.

- The only actual movement from these Central Bank announcements was the Fed’s 25 basis point hike; but that probably didn’t go through as many thought that it would. The net impact was a large, bearish move in the Greenback. Deductively, this appears as though markets were looking at this as an opportunity for the Fed to ramp-up their hawkishness given their persistence towards the ‘normalization’ of rate policy. This did not happen, and the Dollar took a swan-dive after the rate hike.

- We started off by looking at DXY, and we wanted to urge caution if chasing the short side too aggressively as we’re at a longer-term level of support/resistance. Next week’s economic calendar is extremely light, so this could be ample opportunity to gauge potential for the next directional movement in the Greenback.

- We started off with NZD/USD, looking at a key level of support at .6870. This level of support did not come into play in the past couple of days as bulls came-in ahead of support to set a higher-low. But near-term price action appears to be back on the way down, and this can be a situation of a short-term bearish trend producing a fresh low at this support level around .6870 to open the door for a longer-term or bigger picture reversal.

- We then moved over to USD/CHF, which is working with a very interesting level of longer-term support/resistance around .9950. For more information, please check out our USD/CHF Technical Article from yesterday.

- We then looked at GBP/USD after this morning’s ramp-higher. This could open the door for the bullish side of the range up to the 1.2600-neighborhood.

- We then moved over to EUR/USD, which is a bit messy to my eyes at the moment. I do want to anticipate Euro-bullishness, but the primary challenge in EUR/USD is taking on short-USD exposure through a rising rate cycle. As a potentially more attractive candidate for long-Euro exposure, we looked at EUR/JPY.

- EUR/JPY is interesting from a few different perspectives. For more information on the setup, please check out our technical article on the pair from yesterday. And we set up an Analyst Pick just ahead of FOMC yesterday, and that can be read here.

- USD/JPY – we’re at an interesting level around 113.00. The longer-term support zone from 111.61-112.40 is still the area of attraction, however; and should this come into play next week, that could open the door for longer-term bullish stances in the pair.

--- 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

News & Analysis at your fingertips.