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.

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
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
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • $CL_F #OOTT #CrudeOil https://t.co/dj3O9w3eKa
  • Heads Up:🇳🇿 Building Permits MoM (MAR) due at 22:45 GMT (15min) Previous: -18.2% https://www.dailyfx.com/economic-calendar#2021-05-05
  • Crude Oil Price Outlook: WTI Peels Back from Year-to-Date Highs -via @DailyFX "Crude oil is struggling to take out technical resistance near $66.25 as India, the world's third largest oil importer, grapples with a worsening covid-19 outbreak." Read More: https://www.dailyfx.com/forex/market_alert/2021/05/05/crude-oil-price-outlook-wti-peels-back-from-year-to-date-highs.html https://t.co/Xhk2ZqSdgG
  • The S&P 500, DAX 30 and FTSE 100 fell on Tuesday and retail traders were quick to act. Rising long bets warn that their decline could have more room to find momentum. Get your S&P500 market update from @ddubrovskyFX here:https://t.co/khrWcL9fTr https://t.co/JmCSD912kx
  • RT @BrendanFaganFx: USD/BRL Points Lower as Brazil's Central Bank Raises Selic Rate to 3.5% $USDBRL Link: https://www.dailyfx.com/forex/market_alert/2021/05/05/USDBRL-Points-Lower-as-Brazils-Central-Bank-Raises-Selic-Rate-to-35.html
  • Heads Up:🇨🇦 BoC Gov Macklem Speech due at 22:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-05
  • 🇧🇷 Interest Rate Decision Actual: 3.5% Expected: 3.5% Previous: 2.75% https://www.dailyfx.com/economic-calendar#2021-05-05
  • $USDBRL extending its slide following a 75 basis point rate hike from the Brazilian central bank to 3.5% Another 75-bps move was hinted at for the June meeting The pair is trading at its lowest since late April #BRL #Brazil #BCB https://t.co/IyAp9DYCBG https://t.co/9ZSpXRV0g5
  • More from the Central Bank of Brazil: -Rate decision considers activity, employment -Activity has been more positive than expected -Economy should return to normal little by little -Higher energy prices to pressure short-term CPI
  • Brazil central bank decision to raise benchmark rate was unanimous $USDBRL
Trade Set-ups Developing in GBP/USD, AUD/USD & Euro-Crosses (Webinar)

Trade Set-ups Developing in GBP/USD, AUD/USD & Euro-Crosses (Webinar)

Paul Robinson, Strategist

GBP/USD is holding 13300 in solid fashion and could swing higher soon. AUD/USD is putting in a short-term chart pattern after overcoming resistance. USD/CAD & EUR/JPY are in ranges but offer defined levels to operate off of. A few Euro cross-rate set-ups.

Enjoy the video? DailyFX analysts host live events daily, see the Webinar Calendar for details.

Highlights:

  • GBP/USD is holding up above key support at 13300, could soon trade higher
  • AUD/USD has a symmetrical triangle forming on support
  • USD/CAD still a range-traders pair, awaiting a breakout for directional cue
  • Several Euro-crosses are showing potential (EUR/JPY, EUR/GBP, EUR/NZD)

GBP/USD is holding onto the 13300-line of support in bullish fashion (taking on the shape of a bull-flag), but still needs to trade a little higher to gain momentum. Overall, the trend for the year has been higher, so a break higher would be consistent with the general path of least resistance.

GBP/USD: Daily

GBP/USD daily price chart

AUD/USD is in the process of building a symmetrical triangle visible on the intra-day time-frames. The fact it is building after recapturing resistance is a good sign the pattern will lead to a continuation of the recent rise.

See the IG Client Sentiment data for retail positioning on Forex pairs and major markets.

AUD/USD: 4-hr

AUD/USD 4-hr price chart

USD/CAD remains range-bound, with it currently trading at the upper-end. Yesterday, a semi-bearish rejection was put into place which may shift it back lower. It remains a range-trading market until it can breakout and resolve into the 12900s or below the area around 12665.

EUR/JPY remains in a three-month-long range, but it will resolve itself one way or another at some point. The trend favors a break to the top-side, which will bring levels into play from 2015. On the downside, levels carved out during the rally earlier this year. EUR/GBP is forming a wedge on the 4-hr chart within the context of a broader range. Overall, a continuation-style trade may soon develop which furthers along the trend off the August high. EUR/NZD is nearing an underside retest of the recently broken channel. A rejection lower from the bottom line is viewed as a reason to look for another leg lower.

Start expanding your knowledge base today Market Forecasts and Educational Guides

EUR/NZD: Daily

EUR/NZD daily price chart

Other pairs we looked at included – EUR/USD, EUR/CHF, GBP/NZD, as well as a few others. The focus, though, was primarily on the higher conviction set-ups.

Gold and silver are rallying into resistance and remain viewed through a bearish lens; a turn down from resistance will be our cue to look for weakness to set in again. See this morning’s gold & silver commentary for more details.

We looked at the DAX as it is in the process of falling back in the range, but if it can reverse back higher after doing so it will be viewed as having sound bullish implications. The S&P 500 remains very strong, with small dips viewed as opportunities for longs. The market is poised to close near or at record highs when the year concludes.

For full technical considerations, please see the video above…

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email – SIGN UP HERE

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES