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. See our updated Privacy Policy here.

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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
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
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/zyTHSyUiMd
  • 🇹🇭 GDP Growth Rate QoQ (Q1) Actual: 0.2% Expected: -0.8% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-05-17
  • 🇹🇭 GDP Growth Rate YoY (Q1) Actual: -2.6% Expected: -3.3% Previous: -4.2% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.63% Gold: 0.37% Oil - US Crude: 0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SnUeYQAKdi
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.02% 🇬🇧GBP: -0.11% 🇪🇺EUR: -0.11% 🇨🇦CAD: -0.24% 🇦🇺AUD: -0.35% 🇳🇿NZD: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/d3OdjbE19m
  • Heads Up:🇹🇭 GDP Growth Rate QoQ (Q1) due at 02:30 GMT (15min) Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Heads Up:🇹🇭 GDP Growth Rate YoY (Q1) due at 02:30 GMT (15min) Previous: -4.2% https://www.dailyfx.com/economic-calendar#2021-05-17
  • 🇨🇳 Fixed Asset Investment (YTD) YoY (APR) Actual: 19.9% Expected: 19% Previous: 25.6% https://www.dailyfx.com/economic-calendar#2021-05-17
  • 🇨🇳 Industrial Production YoY (APR) Actual: 9.8% Expected: 9.8% Previous: 14.1% https://www.dailyfx.com/economic-calendar#2021-05-17
  • 🇨🇳 Retail Sales YoY (APR) Actual: 17.7% Expected: 24.9% Previous: 34.2% https://www.dailyfx.com/economic-calendar#2021-05-17
Trading the Majors with James Stanley (5.16.2017)

Trading the Majors with James Stanley (5.16.2017)

James Stanley, Senior Strategist

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

- 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 IG Client Sentiment.

- if you’d like to attend similar webinars, but in a live format, please check out our webinars calendar on DailyFX, where we have more than 20 live events every week.

- In this webinar, we used price action to analyze major currency pairs, with specific focus on EUR/USD after today’s bullish breakout.

- EUR/USD finally posed a break-above the 1.1000 psychological level, and there’s been a minimum of pullback in the move, making the prospect of chasing even more dangerous. But we looked at potential ‘higher low’ support levels at 1.1000 and 1.0933 for re-entry prospects; and there’s a much more short-term, aggressive re-entry level available at 1.1040-1.1050.

- We then moved over to GBP/USD, which is also showing some element of bullish potential. Price action broke above the 1.2750 area of resistance almost a month ago after Theresa May’s surprise announcement of early general elections in the U.K., and since then we’ve seen a few different instances of support showing above 1.2750; and this could open the door to bullish continuation plays.

- We then looked at USD/JPY, which is finally seeing some pullback from its recent bullish ramp. We looked at three different levels to watch for re-entry into the bullish move; specifically eyeing the big zone of support from 111.61-112.40 for risk levels on re-entry approaches.

- USD/CAD is currently seeing support at a very interesting area of 1.3575. This lines up with the double-top formation from November/December of last year; and this prior resistance becoming new support could open the door for bullish continuation plays. This level is also the 50% retracement of the prior major move, taking the January 2016 top down to the May 2016 low; and this just adds more interest behind this current zone of potential support.

- One of the more attractive long-USD setups at the moment is the short-side of AUD/USD. The longer-term range is still at play here, but near-term price action is still a bit far away from resistance points at .7455-.7500 to open the door for bearish plays. Should resistance show in or around this zone, the area around .7200 could become an attractive target for short positions.

- We then looked at Gold, which is currently in the midst of a rather consistent bullish channel. We had discussed that channel yesterday in the article, Gold Prices Build Bullish Chanel, Test Deeper Resistance.

--- Written by James Stanley, Strategist 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