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
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
Gold
Bearish
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/tgq1jyblnN
  • 💵 US Dollar Set for Volatility with NFP Data & Fed Meeting on Deck (via @DailyFX) ➡️ Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/12/05/us-dollar-volatility-due-to-rise-with-jobs-data-fed-on-deck.html $USD $DXY #Forex #Trading #FOMC #Jobs https://t.co/cdeBn1fvvt
  • The US Dollar eyes its worst week since October as the Euro and British Pound rose. Treasury bills saw their lowest yield since 2018, likely reflecting US-China trade deal skepticism - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/12/06/US-Dollar-Drop-Eyes-Support-as-the-Euro-and-British-Pound-Rise.html?CHID=9&QPID=917702 https://t.co/Glqk2x99ml
  • Japanese Yen edging higher early into Asia's Friday trading session #USDJpy #AUDJPy #NZDJPY #EURJPY https://t.co/kiQa2fji2X
  • Ahead of the #UKelection next week, take the time to read up on how politics impacts markets - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/07/04/How-to-Trade-the-Impact-of-Politics-on-Global-Financial-Markets.html
  • Most major central banks won’t meet again until mid-January or early-February. For those with meetings remaining in 2020, no rate moves are expected. Get your market update from @CVecchioFX here:https://t.co/5cVZK98H7H https://t.co/femYKxszVV
  • $USD $CAD $MXN https://t.co/p3bP1d58In
  • #USDCHF pivot points (daily) – S3: 0.9823, S2: 0.9851, S1: 0.9862, R1: 0.9889, R2: 0.9906, R3: 0.9934 - https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Despite hollow assurance from Washington officials that talks are going “well”, markets appear to not be convinced as the potency of these remarks to elicit hope has waned.
  • This "we're really close" kind of repetition from officials feels like hearing from that one friend who is "just five minutes" who actually hasn't even gotten up and showered yet to leave the house. https://t.co/KjORhSzAR9
Technical Focus – US Dollar, Yen-crosses, Gold Price, DAX & More

Technical Focus – US Dollar, Yen-crosses, Gold Price, DAX & More

2017-03-22 11:27:00
Paul Robinson, Currency Strategist
Share:

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) has taken a hard hit since the FOMC meeting, but still has room to go to sub-99 before it may find meaningful support. EURUSD is trading into a bit of resistance, which is why we are now favoring GBPUSD more to the top-side given it's cleared a couple of meaningful technical events. USDJPY is on the brink of breaking down in meaningful fashion, but still needs to scoot a little further lower to help further cement this view. Yen cross-rates in general look vulnerable with a ‘risk-off’ environment helping to underpin more weakness. GBPJPY has a nice-looking descending wedge on the verge of breaking.

Gold and silver don’t have the strongest technical backdrops for arriving to conclusions, but if we continue to see a solid offer in USD, then at the least they should hold up and trade higher. It’s worth noting, though, that not far above around 1250 lies a good line of resistance in gold.

Crude oil is trading between a pair of longer-term trend-lines, with a key reversal day taking shape last week off the one. A break below the reversal-day low opens the door up for a move to around 45, then lower towards the 43/42 area.

The DAX was a big focus heading into this week, and continues to be. It broke hard yesterday from a clear rising wedge, which suggests we are in for more selling ahead. The CAC 40 is shaping up similarly as it looks to decline further off a 16 ½ year trend-line. U.S. indices broke very hard yesterday and we look for momentum to carry them lower in the near-term. The Nikkei took out the under-side trend-line of an ascending wedge it had been building, putting it in position to add to yesterday’s 2% losses.

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.

DISCLOSURES

News & Analysis at your fingertips.