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
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
Wall Street
More View more
Real Time News
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here:
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here:
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here:
  • 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:
  • It was a big Q1 for $USDJPY but so far Q2 has been a far different tone. Which side will prevail? Get your market update from @JStanleyFX here:
  • 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:
  • The RBA highlighting several key risks to the local economy in its semi-annual FSR may drive AUD lower against haven-associated currencies despite the expectation of strong Q1 GDP figures out of China. Get your market update from @DanielGMoss here:
Trading Outlook for EUR/USD, USD/JPY, CHF/JPY, Gold Price, DAX & More

Trading Outlook for EUR/USD, USD/JPY, CHF/JPY, Gold Price, DAX & More

Paul Robinson, Strategist

The dollar spectrum is a bit of a mix here at this time, with few clean set-ups to speak of. The euro is neither here nor there, but has levels to the top and bottom-side to reference. To the contrary, USD/JPY looks poised to make an explosive move soon (CHF/JPY too). The DAX broke down from a bearish rising wedge today, it’s poised to trade lower in the near-term. Watching or signs of a higher low to form in gold.

Technical Highlights:

  • EUR/USD has strong support, but lacking upside conviction
  • USD/JPY ready to make a move (CHF/JPY too)
  • Gold price decline has higher low scenario in play
  • DAX broke bearish rising wedge, more weakness expected

We just released fresh quarterly forecasts, to see our fundamental and technical insights on major markets and currencies, check out the DailyFX Q3 Forecasts.

EUR/USD has strong support, but lacking upside conviction

The euro found strong support in the 11500s and has since seen a bit of a rebound, but momentum and the broader trend aren’t bringing to the table with it much conviction. On the top-side there are the 11800s to contend with (11790 touched on Monday), which could turn EUR/USD back lower if it hasn’t already seen its best levels.

If Monday’s high holds, a descending wedge could form with 11500 as major flat bottom support to the pattern. It’s only a scenario now, but with a little more time it could present an intriguing set-up. For now, from where we sit the euro is ‘neither here nor there’.

EUR/USD Daily Chart (between levels, potential wedge)

EUR/USD daily chart, between levels/potential for a wedge

For more in-depth fundamental and technical analysis, check out the Q3 Forecast for the Euro

USD/JPY ready to make a move (CHF/JPY too)

USD/JPY is right at the tip of a tightening ascending wedge, implicating it is very near making a sizable breakout. Standing right at the end of the pattern is a well-defined (clean connecting points) trend-line extending down from 2015.

The pattern implies a breakout to the upside with the higher lowers, but we can’t rule out a turn lower in line with trend resistance. Preferably, if USD/JPY is to break to the top-side, given the duration of the trend-line, it confirms with a weekly close above. (We’ll be taking another close look at this in Friday’s “Charts for Next Week” webinar…)

USD/JPY Daily Chart (Ascending wedge, 3-yr trend-line)

USD/JPY daily chart, ascending wedge at 3-yr trend-line

CHF/JPY is up against pretty stiff resistance at this time, but very near breaking out of an ascending wedge. The price structure since March even has an inverse head-and-shoulders look to it as well. In either case – wedge or H&S – a break above resistance in the 11200s should have the yen cross running, while a breakdown below rising support could spell trouble.

CHF/JPY Daily Chart (Wedge/H&S, nearing a breakout)

CHF/JPY daily chart, wedge building (possible inverse H&S), breakout nearing

For more in-depth fundamental and technical analysis, check out the Q3 Forecast for the Japanese Yen

Gold price decline has higher low scenario in play

This has been one of the focal themes this week – a higher low forming before at least one more push higher. The low needs to form soon, preferably at or above the 2015 trend-line, for this to hold any real weight. Should buyers step up soon, looking for a further recovery towards the upper parallel of the channel dating back to April.

Gold Daily Chart (Higher low to form?)

Gold daily chart, higher low to form soon?

For more in-depth fundamental and technical analysis, check out the Q3 Forecast for Gold

DAX broke bearish rising wedge, more weakness expected

In yesterday’s webinar, we discussed the rising wedge scenario for the DAX and three ways in which it could unfold. The first option, simply break the underside trend-line and start to sell-off is the one which is in the works. (To see the other two, check out yesterday’s webinar archive.) With the break in place, the target is set on a test of the February 2016 trend-line down around 12200.

DAX Hourly Chart (Rising wedge confirmed)

DAX hourly chart, rising wedge conformed, should see lower prices from here

For more in-depth fundamental and technical analysis, check out the Q3 Forecast for Global Equity Indices

Resources for Index & Commodity Traders

Whether you are a new or an experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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