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
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
Oil - US Crude
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
Wall Street
Bullish
Gold
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
GBP/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
USD/JPY
Bullish
More View more
Real Time News
  • The S&P 500 is very near filling the coronavirus gap down on February 24, it only needs to go another 30 points to 3337 to complete the task. Get your S&P500 technical analysis from @PaulRobinsonFX here: https://t.co/WOWt3btE3X https://t.co/420GUgjBKP
  • Commodities Update: NYM WTI Crude 42.25 (+1.32%), ICE Brent Crude 45.27 (+1.89%), NYM NYH Gasoline 122.54 (+0.91%). [delayed]
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 3.22% Gold: 0.87% Oil - US Crude: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OZAg17Ojqt
  • #Gold has rallied over $200/oz. since then and late Tuesday broke through $2,000/oz. with ease. Get your $XAUUSD technical analysis from @nickcawley1 here: https://t.co/377MlMYPwT https://t.co/i5fE0zpse4
  • Trump threatens to take executive action on certain relief efforts should congress fail to make a deal - Fox Business News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.96%, while traders in US 500 are at opposite extremes with 76.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/X22WA5Nxrx
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.04% US 500: 0.56% France 40: -0.11% Germany 30: -0.15% FTSE 100: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/H9HgvCLdlE
  • US Treasury Yields: 2-Year: 0.109% 3-Year: 0.125% 5-Year: 0.215% 7-Year: 0.391% 10-Year: 0.545% 30-Year: 1.224% $TNX
  • The Bank of England is not expected to make any major changes to the current monetary policy after QE had been expanded by GBP 100bln at the prior meeting. Get your market update from @JMcQueenFX here:https://t.co/jvKHp6s3XG https://t.co/jz3EhCdtae
  • Canadian #Dollar Outlook: $USDCAD Plummets to Major Uptrend Support - https://t.co/HLtQstewm6 https://t.co/DXXIOvBKzX
pre-FOMC, BoE, BoJ Price Action Setups (6.13.2017)

pre-FOMC, BoE, BoJ Price Action Setups (6.13.2017)

2017-06-13 19:55:00
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 IG Client Sentiment.

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

Talking Points:

- The next few trading days bring a series of Central Bank announcements that can keep FX markets volatile in the near-term. In this webinar, we used price action to look at setups for various scenarios over the next few days’ worth of drivers.

- We started off by looking at the U.S. Dollar ahead of the Fed’s widely-expected interest rate hike tomorrow. As we shared, a rate hike doesn’t necessarily mean a stronger Dollar. The bigger question will be what the Fed might be planning around the balance sheet. If the Fed is looking to tighten the money supply by reducing the balance sheet, this would be de facto tightening without higher rates. The higher rates are what generally attract capital flows, so if the Fed is looking to tighten through balance sheet operations as opposed to higher rates, there could be a very valid reason to look at USD weakness continuation.

- On the side of USD weakness we looked at EUR/USD. Last week saw a very dovish ECB talk-down the prospect of QE exit and this brought a brief iteration of weakness to the Euro. But buyers showed-up shortly thereafter and since, we’ve seen EUR/USD retain its longer-term bullish posture. If USD-weakness shows after tomorrow’s FOMC announcement, long EUR/USD could be an attractive venue for such a theme.

- We then moved over to USD/JPY, which appears to be trying to put in a bullish formation with the recent series of higher-lows. With price action finding support around 110.00, with 109.90 being the 50% retracement of the ‘post-Election’ move in the pair and a Bank of Japan meeting on the calendar for later in the week, and a topside setup could be attractive, particularly in the case of USD-strength post-FOMC.

- We then moved over to GBP/USD, which is catching a bid after this morning’s U.K. inflation numbers; and this is on the heels of last week’s drive-lower after U.K. elections. Thursday morning brings another Bank of England meeting, and the big question is just how dovish the bank might be after this higher-than-expected inflation print and with the backdrop of even more uncertainty around Brexit after last week’s election. We looked at this as a pair to watch for USD-weakness tomorrow around FOMC in order to find a more advantageous point with which to sell. We looked at the area around 1.2843 for such a purpose.

- We then looked at USD/CAD testing support in a bullish trend channel.

- We then looked at AUD/USD, which has the makings of a bullish formation on the 4-hour chart.

- We then looked at the robust bullish move in NZD/USD, and while attractive, the trend feels overbought as we encounter longer-term resistance levels.

- We then looked at GBP/JPY, which is currently in a bearish channel.

--- 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

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.