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
Bearish
Oil - US Crude
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
Wall Street
Mixed
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
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • It took some time for USD/MXN to respond to weakness in equity markets, but this week it came to life as U.S. weakness spread across global markets. Get your $USDMXN technical analysis from @PaulRobinsonFX here:https://t.co/G8b6w1wCzH https://t.co/zEtpARMkMg
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.38%, while traders in EUR/GBP are at opposite extremes with 65.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/WGk95Bnjx5
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: -0.45% Oil - US Crude: -0.63% Silver: -1.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/RvLy6xA9Is
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: -0.06% 🇯🇵JPY: -0.15% 🇬🇧GBP: -0.22% 🇨🇦CAD: -0.32% 🇦🇺AUD: -0.38% 🇪🇺EUR: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/MZIiNOFxXu
  • Hey traders! Wrap up your week with a market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/DHufbBKbDu
  • Canadian PM Trudeau says Canada purchasing 20 million vaccine doses from Astrazeneca -BBG
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 0.26% France 40: 0.03% Wall Street: 0.02% FTSE 100: -0.06% Germany 30: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/jByk8LUAt6
  • UK Government Official says either outcome is possible on Brexit
  • UK Government Official says if gaps in fisheries and level playing field are bridged, the EU's more constructive attitude will need to be translated into more realistic positions in the days to come
  • Big headline that says the EU has informed the UK that it must commit to some key demands in next week's trade talks if there is progress before the October deadlines. That said, I don't think this is a particularly new refrain between those two. It's the clock that matters
Trading Outlook for DAX, S&P 500, Gold/Silver Price & More

Trading Outlook for DAX, S&P 500, Gold/Silver Price & More

2017-07-11 10:18:00
Paul Robinson, Strategist
Share:

Join Paul or any of the other DailyFX analysts live each week, for details please see the Webinar Calendar.

Today, we started out by looking at the ongoing bearish stance of precious metals, but silver could soon be at a very pivotal spot with the 2003 trend-line quickly coming into view. It’s a very long-term trend-line so we’ll be most interested in how it responds via weekly bars should it drop into that area of support. The near-term outlook remains bearish.

Crude oil was smacked down hard from the 47 level we were looking at as resistance, and while it is bouncing off support just under 44 it is not anticipated that we will see a move back to 47 if further weakness is to develop. There is a trend-line running down from the May high over 47 which could stall any bounce from here.

Global equity indices, especially in Europe, are posturing themselves for lower prices. The DAX continues to get turned lower from resistance surrounding the 12500-line, and with a little time the big April gap from 12289 down to 12048 looks likely to get filled sooner rather than later. The CAC 40 is already in the election gap, and poised to soon fill it. The FTSE continues to get rejected from near 7400, and the 7302 level looks soon set to break. We’ll need to keep an eye on the February 2016 trend-line should it arrive there as it is a biggie with major lows connecting since. The S&P 500 is slowly rolling over, a break below 2405 is needed to spur down-side momentum. The Nasdaq 100 is testing a neckline and if it is to breakdown then it should begin in the next day or so.

For the full outlook, please see the video above…

Looking for a longer-term view on markets? Check out our Q3 Forecasts.

---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