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
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
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
Wall Street
Bearish
Gold
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
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
More View more
Real Time News
  • Excerpt from my #USD weekly forecast - "The premonitions of slower growth, compounded by political volatility from the election may cushion USD’s decline if it triggers a flight to havens" https://www.dailyfx.com/forex/fundamental/forecast/weekly/usd/2020/10/25/US-Dollar-Torn-Between-Q3-Corporate-Earnings-US-GDP-Data-Virus-Spike.html
  • $USD | US Dollar Outlook - via @DailyFX "The US Dollar looks primed for heightened volatility this week as election risk intensifies and key themes like stimulus talks, equity earnings, and COVID-19 restrictions exacerbate uncertainty." Link to Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/10/26/usd-price-outlook-us-dollar-in-the-hot-seat-as-election-nears.html https://t.co/B6HS0ecNPD
  • There are some major economies set to update on the health through the third quarter this week. The US and Eurozone are later this week, but South Korea is due to report this morning. When was the last time you took a look at the $USDKRW? https://t.co/UQLHfonxnO
  • Heads Up:🇳🇿 Balance of Trade (SEP) due at 21:45 GMT (15min) Previous: N$-353M https://www.dailyfx.com/economic-calendar#2020-10-26
  • The Euro remains the largest long by some margin, despite investors trimmed their bullish bets yet again. While the blue wave election trades are USD negative. Get your market update from @JMcQueenFX here:https://t.co/FxzsRmXYVN https://t.co/V4n7ncl1WA
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.10% 🇳🇿NZD: -0.13% 🇬🇧GBP: -0.16% 🇨🇭CHF: -0.40% 🇪🇺EUR: -0.43% 🇨🇦CAD: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YlP6D1tUc2
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: -0.03% Oil - US Crude: -0.08% Silver: -1.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4D7w33mAud
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.86%, while traders in NZD/USD are at opposite extremes with 73.83%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/48N5RecRwt
  • RT @Nadex: Will the Dow be bullish or bearish after Nov. 3? Make your prediction today for a chance to win $5,000.* https://t.co/EXtYKMxrrW…
  • Australian #Dollar Forecast: $AUDUSD Grinds into Downtrend Resistance- #Aussie Levels - https://t.co/Y4oiWHaE6l https://t.co/GYpXhkKJIo
Charts Ahead of FOMC: US Dollar, Gold Price, S&P 500 & More

Charts Ahead of FOMC: US Dollar, Gold Price, S&P 500 & More

2017-05-03 11:35:00
Paul Robinson, Strategist
Share:

Join Paul every Tuesday-Friday for webinars. For details and a full line-up of all upcoming live events, please see the Webinar Calendar.

Today, we started off by looking at the US Dollar Index (DXY) ahead of the FOMC rate decision and policy statement later today. No expectation of a move out of the Fed, so traders will focus on the language in the statement for clues as to future moves. The DXY has been treading water after the sharp gap lower following the first round of the French presidential elections. The dominating currency in the index, the euro, is hanging out just below resistance by way of an upper parallel. Dialing in on the 4-hr chart we can see a triangle developing. It’s unclear if this will be a tradable pattern between the FOMC today and the French run-off election on Sunday.

GBPUSD continues to hold steady at a key area, and still looks likely to trade higher. (Trade idea here.) Even if were to soften a bit, as long as it stays above 12600 or so it will still be constructive. If cable can get into gear, the next major zone of resistance doesn’t arrive until ~13400/500.

USDJPY is above a key level of resistance, but faces a trend-line running down off the January high – beware of it stalling there. EURJPY, GBPJPY, and CHFJPY to a lesser degree have had tremendous runs, but these can be momentum beasts and they are still viewed bullish, albeit cautiously so.

Gold and silver are not looking good, especially silver. Gold down at the December trend-line around 1240 would be an intriguing spot to look for a bounce. Silver has been down twelve days in a row and in need of a relief rally, but that is likely all it will be.

Crude oil cracked the 48 line we talked about in yesterday’s commodities/indices webinar, and has the triple bottoms at 47 on our minds. The outlook continues to weaken, with bounces viewed as sales. Looking for low 40s at some point in the not-too-distant future.

The S&P 500 is hanging out just below the March 1 record high, consolidating recent gains in bullish-fashion. New highs should soon be notched out. The DAX also looking good, higher levels anticipated. The FTSE 100 is a laggard, the British pound isn’t helping; charts shows the index stuck between support and resistance.

For full technical considerations, please see the video above.

See our quarterly forecasts for FX, equity indices, and commodities to see where our team of analysts see markets heading for the remainder of Q2.

---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