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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Heads Up:🇧🇷 Inflation Rate YoY (APR) due at 12:00 GMT (15min) Expected: 6.76% Previous: 6.1%
  • RT @KyleR_IG:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.02%, while traders in Wall Street are at opposite extremes with 74.05%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:🇧🇷 BCB Copom Meeting Minutes due at 11:00 GMT (15min)
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here:
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.61% Gold: 0.26% Oil - US Crude: -0.88% View the performance of all markets via
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇳🇿NZD: 0.27% 🇦🇺AUD: 0.24% 🇯🇵JPY: 0.05% 🇨🇦CAD: 0.00% 🇨🇭CHF: -0.13% View the performance of all markets via
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.43% US 500: -0.70% France 40: -1.89% FTSE 100: -2.07% Germany 30: -2.19% View the performance of all markets via
  • ZEW economic sentiment soars in May. #zew #euro #eurusd @DailyFX
Trading Outlook for USD-pairs, Gold/Silver Price, DAX & More

Trading Outlook for USD-pairs, Gold/Silver Price, DAX & More

Paul Robinson, Strategist

LIVE events are held each day with DailyFX analysts, for details please see the Webinar Calendar.

Today, we started out by looking at the bounce in the US Dollar Index (DXY) and its sustainability. The index touched off into the top of a support zone extending lower from around 93 down to just under 92, dating back as far as 2015. It’s an area of interest for sure, and with yesterday’s surge a bounce could very well be under way. EURUSD, as 57% of the DXY, obviously was a major contributor to the bounce. The euro may not fall apart here, but a correction at the least looks to be underway. GBPUSD is wedging up and could soon lead to an explosive move. USDJPY is testing key trend-line support back to September; expectations are for a rally from here. AUDUSD put in a sweet reversal bar on the daily and dialing in on 1-hr we looked at the possibility of breaking solid support and opening up a path lower for the short-term trader.

We took a look at a several cross-rates, one of interest was CHFJPY as we were looking at that the other day as a short. It certainly exceeded expectations on the downside. EURCAD on the other hand was another short prospect which isn’t working out as anticipated, but the next few days could be important as it trades into a tangle of resistance. USDMXN is on the radar as a short with 17.90 eyed as an area to turn lower from.

Gold and silver are both at key inflection points, especially the former. The 2011 trend-line is highly visible again as resistance at this time. Silver reached a confluence of resistance and put in a key reversal candle yesterday, which suggests it should move lower from here. The 2003 trend-line sub-15 remains the target.

The crude oil rally continues, but now comes upon a test of trend-line resistance. Overall, the handle on this one has been lost and we’ll stand aside until further clarity is gained.

Stock indices are still a mixed bag, but the DAX and CAC 40 look destined to finally fill those glaring April gaps. The DAX is on the verge of triggering a head-and-shoulders top and on that we could see the index shed some weight beyond the gap-fill. The S&P 500 and Nasdaq 100 both took shots yesterday. The NDX volatility index – VXN – has been generally rising since March while the Nasdaq rallies. The growing instability in the index with it taking shot across the bow #2 (#1 was the Goldman Sachs note on 6/9) suggests risk for a major down-draft is rising. We are entering into a seasonally weak time of the year and expect this fall things could get a little wild.

For full technical considerations, please see the video above…

Check out our Q3 Forecasts for our take on where markets are heading.

---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.