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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 86.39%, while traders in France 40 are at opposite extremes with 80.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/C7lSlkKBzc
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  • The US Dollar still remains under pressure against most ASEAN currencies heading into May. A busy week awaits the Indonesian Rupiah, Thai Baht, Philippine Peso and Singapore Dollar. Get your market update from @ddubrovskyFX here:https://t.co/Ed95511S7Y https://t.co/R9U2jLoAD3
  • #NOK #NZD and #AUD are expected to be the most-active #G10 FX against the US Dollar with one-week implied volatility at 11.20, 9.05 and 9.05 respectively [delayed] -BBG
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US Dollar Tries to Bubble Higher (Webinar Recording)

US Dollar Tries to Bubble Higher (Webinar Recording)

Jeremy Wagner, CEWA-M, Head of Education

This is a recording of a US Opening Bell webinar from April 3, 2017.

In today’s US Opening Bell webinar, we discussed technical patterns on key markets. One market we have been focusing on for the past week is the potential triangle pattern for GBP/USD. This pattern has been taking shape for the past 5 months. We are anticipating this pattern to finish below 1.2706 and retest the historic lows of 1.19.

This GBP/USD triangle pattern was previously written about as a trader’s pick on March 24.

EUR/USD has sold off hard for the past couple days after being rejected at the 200 day simple moving average. We are looking for continued weakness so long as price remains below last week’s high.

If gold prices break above last week’s high it opens the door to $1275 and possibly higher. Another rejection at the 200 day simple moving average suggests prices may have to wait before embarking upon the moving average break higher. We do see the higher probability pattern is an eventual break higher through the moving average either it be soon or by starting from slightly lower levels.

If you wish to learn more about Elliott Wave theory without attending the webinars, we have Beginner and Advanced Elliott Wave trading guides.

---Written by Jeremy Wagner, Head Trading Instructor, DailyFX EDU

Follow me on Twitter at @JWagnerFXTrader .

See Jeremy’s recent articles at his Bio Page.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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