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
Wall Street
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
More View more
Real Time News
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/GQB0ic9Ahe
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/lx3cMSpZNc
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today: https://t.co/XtydfUNW0y https://t.co/n4NXZUovb0
  • Scoping out next week for trading the market, there are a range of high profile influences including September PMIs, Evergrande and a range of central bank decisions. Top listing on my docket is the #FOMC with my scenarios below. Full analysis: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/18/SP-500-and-Dollar-on-the-Hook-for-Breaks-with-Evergrande-Fed-and-September-Trade-Ahead.html https://t.co/ZdoMJS9fp5
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/Q3Yfe6TMLw
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/6inC94w5K4
  • All eyes on the Fed on Wednesday as investors weigh on chances of a taper announcement. Get your weekly equities forecast from @HathornSabin here: https://t.co/Cv06XcvldF https://t.co/I12g2YPkdE
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/KsPiWBysiR
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/iUvhLfQgcK
  • The US Dollar caught a bid in the late part of last week to set a fresh September high. FOMC is around the corner, are bulls going to be able to push for another fresh high? Get your weekly US Dollar forecast from @JStanleyFX here: https://t.co/ZkDHyV1VhM https://t.co/w5sPChKdNx
Trading Outlook for GBP, Yen-crosses, Gold Price & More

Trading Outlook for GBP, Yen-crosses, Gold Price & More

Paul Robinson, Strategist

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

We started out today by looking at the US Dollar Index (DXY) as strength continues to be short-lived, and while we could be narrowing towards a tradeable low we don’t look to be there yet. GBPUSD has gone nuts the past couple of days after yesterday’s BoE meeting, where the central bank expressed a more hawkish than expected tone. GBPUSD is heading for a gap-fill around 13650 which occurred the day after the ‘Brexit’ plunge. GBPJPY is trading above major resistance back to December 2016 and could be headed towards erasing all ‘Brexit’ losses. We are staying away from EURUSD at this time as cross-winds of support and resistance are making the near-term outlook murky.

USDJPY continues to impress after the gap-n-run starting on Sunday. Yen crosses are all starting to look pretty solid, with breakout levels either being crossed or approached. Those include EURJPY, CHFJPY, AUDJPY, and CADJPY. The latter of the bunch is on the verge of closing above the neckline of a large inverse head-and-shoulders pattern extending back to January 2016. While it is a macro-sized pattern, trades can be shaped around it on the short-term term using daily and 4-hr time-frames.

Gold is edging lower back towards channel support, will be important to hold for the near-term upside bias to maintain. A break below will bring the double-tops at 1296 into focus. Silver similar situation, lower parallel matters.

Check out this new trading guide - Building Confidence in Trading

Global indices look good for the most part sans the FTSE 100. The UK index is crushing through big support at 7300. The DAX and CAC 40 look poised for higher prices after recent breakouts. The S&P 500 looks headed towards the 2515/25 region after spending some time in new record territory.

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