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
More View more
Real Time News
  • US Dollar Ascending Triangle: EUR/USD, GBP/USD, USD/JPY, USD/CAD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/09/27/US-Dollar-Ascending-Triangle-EUR-USD-EURUSD-GBP-USD-GBPUSD-USD-JPY-USDJPY-USD-CAD-USDCAD.html https://t.co/VSC47loQUx
  • Heads Up:🇺🇸 Fed Williams Speech due at 16:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-27
  • The price of oil appears to be on track to test the yearly high ($76.98) after breaking out of the descending channel from earlier this year. Get your #crudeoil market update from @DavidJSong here:https://t.co/QrzTFOCiw5 https://t.co/DQ0r1OsKF1
  • I read this morning that Boston Fed President Eric Rosengren is retiring 9 months earlier than his term expiration due to health issues. Hope he recovers quickly. Could change the calculus for the Fed's policy position next year as he was an incoming hawkish voter. #Tapering https://t.co/WDUeZl3Ziy
  • PRESIDENT BIDEN WILL GET COVID19 BOOSTER SHOT THIS AFTERNOON $PFE $MRNA
  • The next 24 hours is going to be interesting for monetary and fiscal policy insight - particularly in the US. Keeping tabs on the Dollar and $SPX https://t.co/K50JIHYPVd
  • BoE Governor Bailey says the rate of recovery has slowed over recent months and that slowing is continuing - Most MPC members view that outlook for the labour market as highly uncertain and to some degree likely to be resolved in fairly short order $GBP
  • The week starts off with elevated expectations for seasonal volatility, central bank speculation and critical political uncertainties. DailyFX's @JohnKicklighter highlights the dominating themes in the markets this week👇 https://t.co/h6xR9DUGge
  • Heads Up:🇬🇧 BoE Gov Bailey Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-27
  • Tech stocks not having a good day, but cyclicals are on fire. Energy and financials sharply higher, materials also in positive territory. $ARKK about to break a double top pattern support #trading $XLE $XOP $XLF $XLB
Trading Outlook: US Dollar Vulnerable as Yellen, Draghi Set to Speak

Trading Outlook: US Dollar Vulnerable as Yellen, Draghi Set to Speak

Paul Robinson, Strategist

Enjoy the video? Join Paul on Wednesday for Charts & Trade Set-ups at 900 GMT.

Today, we focused on the weak posturing of the US dollar as we head into speeches by Fed Chairwoman Janet Yellen (14:00 GMT) and ECB President Mario Draghi (19:00 GMT). The US Dollar Index (DXY) is in the top of a long-term support zone, but has room to head lower. In the short-term, the index is poised to breakdown, and with today’s catalysts on deck the path of least resistance lower looks more likely than not to be continued.

EURUSD is coiling up on the 4-hr ahead of today’s events within the construct of an overall bullish price sequence on the daily time-frame. GBPUSD is trying to lift from a confluence of important horizontal support in the mid-12700s and a lower parallel line extending higher from a swing-low carved out in April. AUDUSD is attempting to turn from trend-line support. USDCAD looks headed towards sub-12400, in-line with the sell-off starting back in May.

The importance of trading psychology can’t be understated. Check out this beginner’s guide – Building Confidence in Trading.

Gold and silver are both coiling up within rising channels; both are holding the lower channel line while building out triangle formations. It will be important to see gold break and hold above the twin peaks created in April and June along with the 1300-threshold. Today may provide the catalyst to do just that.

Crude oil is a bit of a mess, but the overall bias remains for lower prices, however; it will be important to see WTI trade firmly back below 47 before downside momentum can kick in again.

Equity indices are the hardest place to be right now, as choppy market conditions make the outlook murky. The S&P 500 is in a state of limbo between bullish and bearish, while the DAX continues to develop a triangle formation within the context of a triggered ‘head-and-shoulders’ formation.

For full technical considerations, please see the video above…

---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