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
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
Bearish
Wall Street
Mixed
Gold
Mixed
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 Australian Dollar has once again responded to weekly technical resistance and leaves the bulls vulnerable while below 7866. Get your $AUD market update from @MBForex here:https://t.co/72ORZ3wZwx https://t.co/ktLFGNPZd0
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.50% Silver: 0.10% Oil - US Crude: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/6m6mlA9J0I
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.05%, while traders in GBP/JPY are at opposite extremes with 69.35%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0md6tHfJ37
  • Banxico: - Inflation shows require orderly adjustment in prices - Mid-Long term CPI expectations above 3% - Expects CPI to converge to target in 2Q 2022
  • Banxico: - Rate decision was unanimous - There are major challenges for monetary policy, citing highly uncertain economic environment - Future decisions depend on factors affecting CPI - Inflation has risen more than expected - Inflation risk tilted to the upside $MXN
  • Mexican #Peso maintaining intraday gains following #Banxico rate decision with $USDMXN hanging at session lows https://t.co/aMd2HlpHwt
  • 🇲🇽 Interest Rate Decision Actual: 4% Expected: 4% Previous: 4% https://www.dailyfx.com/economic-calendar#2021-05-13
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.98% US 500: 0.81% Germany 30: 0.02% France 40: -0.01% FTSE 100: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/THzITT5Kgr
  • Australian #Dollar Forecast: #Aussie Bulls Halted– $AUDUSD Range Break Imminent- https://t.co/JdSYBbD1Ur https://t.co/BeSbuNyork
  • Heads Up:🇲🇽 Interest Rate Decision due at 18:00 GMT (15min) Expected: 4% Previous: 4% https://www.dailyfx.com/economic-calendar#2021-05-13
Trading Outlook for DAX, S&P 500, Gold/Silver Price & More

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

Paul Robinson, Strategist

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