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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Lately, capital has been flowing out of #EmergingMarkets and #ASEAN economies, pushing the US Dollar higher against their respective currencies Will this trend continue this week? Check out my latest fundamental outlook here - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/09/28/US-Dollar-Rose-Capital-Fled-Emerging-Markets-SGD-IDR-PHP-MYR-at-Risk.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/iyFPD664Cb
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/S9CEcBm5Qe https://t.co/VNQpG1CUVM
  • $AUDUSD price action strikingly similar to that seen in 2002 - Break above the 1997 downtrend ignited a 106% surge, eventually peaking in July 2008 (0.9850) - Consolidation above downtrend preceded upside push - Bullish RSI divergence appears to signal cyclical upturn https://t.co/j3IumVbAlB
  • Heads Up:🇯🇵 Leading Economic Index Final (JUL) due at 05:00 GMT (15min) Expected: 86.9 Previous: 83.8 https://www.dailyfx.com/economic-calendar#2020-09-28
  • Heads Up:🇯🇵 Coincident Index Final (JUL) due at 05:00 GMT (15min) Expected: 76.2 Previous: 74.4 https://www.dailyfx.com/economic-calendar#2020-09-28
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.83%, while traders in EUR/GBP are at opposite extremes with 64.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MQNUIOEuMx
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.42% 🇬🇧GBP: 0.21% 🇯🇵JPY: 0.21% 🇨🇦CAD: 0.06% 🇪🇺EUR: 0.04% 🇨🇭CHF: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ta4Cy97vbC
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.56% France 40: 1.56% FTSE 100: 1.23% Wall Street: 0.47% US 500: 0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/lA0TK0OTZQ
  • #ASX200 struggling to break above key resistance at 6000 after Westpac retracted its calls for an #RBA rate cut in October RSI hints at fading bullish momentum which suggests that a push towards the monthly low is on the cards, if 200-MA resistance (6020) remains intact. $XJO https://t.co/iXrCqbayfc
  • $AUDJPY poised to move higher after finding support at the 200-day moving average. $CADJPY eyeing a push back towards the yearly high $EURJPY perched atop key support after breaking below Rising Wedge support. Are further losses in the offing? $JPY https://www.dailyfx.com/forex/market_alert/2020/09/28/Japanese-Yen-Outlook-AUDJPY-CADJPY-EURJPY-Levels-To-Watch-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/v03Ge14yvW
Stocks Spill, Dollar Drops after the Rate Hike

Stocks Spill, Dollar Drops after the Rate Hike

2017-03-21 19:11:00
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 (SSI) Indicator.

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

Talking Points:

- In this webinar, we used price action to look at major macro markets after last week’s rate hike from the Federal Reserve.

- We started off by looking at U.S. Equities, as American bourses appeared set for their first daily loss by more than 1% in well over five months. While the wall of worry escalated quickly, we don’t yet have evidence that this is anything more than a pullback. We looked at specific levels to watch for on the S&P 500, The Dow Jones Industrial Average, the Russell 2000 and Apple.

- We then moved over to look at the U.S. Dollar. The Greenback has been incredibly weak since last week’s rate hike, and this highlights that markets were likely looking for the Fed to take on a more-hawkish stance towards future rate hikes. While the U.S. Dollar is incredibly weak on a short-term basis, longer-term, we’re still at rather elevated levels; and the Fed is still persistently hawkish for the rest of the year, so traders will likely want to be careful if too aggressively pushing the short-side of the market in the near-term.

- For long USD-exposure, we looked at a very interesting zone of support on USD/JPY. The bottom of this zone is currently being tested, but if it holds up, this could be interesting for bullish strategies.

- We then moved over to EUR/USD, which is in a rather messy state and will likely remain as such until a new high comes in, breaking above the 1.0828 swing on the chart.

- EUR/JPY could be a more interesting way to gain longer-term bullish Euro exposure; as this removes the issue of short-USD exposure as the Fed moves deeper into a ‘rising rate environment’.

- GBP/USD is catching a strong bid this morning after inflation data came out higher-than-expected. The longer-term setup is still a range; but if the trend in inflation that we’re seeing in the U.K. continues-higher, then we may have an attractive candidate for short-USD scenarios.

- GBP/JPY is in a short-term range with rather messy intermediate-term price action. We looked at two ‘barrier levels’ in order to gauge directional biases in GBP/JPY, and the under-side of price action highlights 138.41 and the top-side of price action offers 140.62 for bullish approaches.

- AUD/USD – entering a long-term zone of resistance. This could be a very interesting USD-reversal setup for those looking for bullish approaches in the Greenback.

- AUD/JPYwe looked at a short position as a response to a key area of resistance around 87.50-87.70.

--- 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