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
  • IMF World Economic Outlook updates: - Lifts 2021 global outlook on stimulus and vaccines boost - Says global recession shallower than previously expected - Raises 2021 global growth estimates from 5.2% to 5.5% $EEM $USD $URTH
  • 🇭🇺 Deposit Interest Rate (JAN) Actual: -0.05% Expected: -0.05% Previous: -0.05%
  • 🇭🇺 Interest Rate Decision Actual: 0.6% Expected: 0.6% Previous: 0.6%
  • Heads Up:🇺🇸 IMF World Economic Outlook due at 13:00 GMT (15min)
  • Heads Up:🇭🇺 Deposit Interest Rate (JAN) due at 13:00 GMT (15min) Expected: -0.05% Previous: -0.05%
  • Heads Up:🇭🇺 Interest Rate Decision due at 13:00 GMT (15min) Expected: 0.6% Previous: 0.6%
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here:
  • US Dollar slips with high beta FX hovering at session highs amid results from Regeneron's antibody drug cocktail which prevented 100% of symptomatic infections and cut down asymptomatic infections by a half in interim study
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 65.58%. See the summary chart below and full details and charts on DailyFX:
Technical Outlook: US Dollar at a Tradable Low?

Technical Outlook: US Dollar at a Tradable Low?

Paul Robinson, Strategist

Enjoy the video? Join Paul Tuesday-Friday each week – for details, see the Webinar Calendar.

The primary focus in today’s discussion was on the reversal-day the US Dollar Index (DXY) put in at the bottom of long-term support. The trend has been extremely one-sided and various sentiment metrics have expressed this much. The data-flow hasn’t been supportive of a higher USD. All-in-all, this is setting the market up for an inflection point as the bad news is priced in, and again with the DXY at the low-end of a long-term support zone (back to ’98) there is reason to think shorts may soon be caught off guard. Yesterday’s reversal-bar was just one-day, but could be the start of a tradeable rebound. EURUSD put in key reversal bar after trading just beyond the 2012 low. GBPUSD also put in a nice reversal day on a retest of a recently broken trend-line. USDJPY found lots of sponsorship as not only did USD find broad buying but safe-haven YEN buyers fled as fear regarding North Korea abated. Generally speaking, from a risk/reward standpoint the trend in USD has reached a point where we can reasonably expect to see some type of low to form, if it hasn’t already.

Precious metals took a hit off their highs yesterday as North Korea fears diminished and USD traded strongly off its lows. Gold put in its own key reversal bar off the upper parallel of a channel which has been keeping it pointed higher for several weeks. This shifts the focus immediately lower, but as long as the lower parallel holds along with the double-tops from April/June, then gold will keep a more broadly bullish bias intact. Silver pulled back off the July 2016 trend-line, also shifting immediate focus lower. Like gold, the lower parallel matters. Keep an eye on USD and its influence moving forward.

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

Crude oil, as discussed yesterday, appears to be headed lower, and now that it not only broke a rising channel in place since June, but the key 47-level has been cleanly broken as well. Stay below 47 and sellers are in control.

We saw a snapback yesterday on the gap-down open in U.S. indices, which keeps them continuing to grind. Price action is in limbo right now. Looking at the Nasdaq 100, we have maybe the cleanest picture, with a bull-flag coming to shape. Still need some more time for confidence to build, but it’s a possibility on our radar. The DAX may find some help from a weak euro should we see the single-currency decline, but it has its work cut out for it on the upside. It remains the ‘go-to’ index for shorts. The FTSE 100 held the 7300-level after a minor breach yesterday. This keeps the outlook neutral.

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.