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
Oil - US Crude
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
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Bank of Japan to mull widening of its long-term yield band -BBG $USDJPY
  • While the rise in longer-dated Treasury yields have been impressive as of late, March highs remain a key focus for resistance The medium-term uptrend remains intact, maintained by rising support from August Fading fiscal stimulus expectations (size) may sour yields ahead https://t.co/L3vBcF0ts7
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/vFJ8zmphMm
  • While the US Dollar has been holding its ground, its downside bias against the Singapore Dollar, New Taiwan Dollar Thai Baht and Indonesian Rupiah remains intact as it hovers at support. Get your market update from @ddubrovskyFX here: https://t.co/p7gAztWuVG https://t.co/zB1pOS6U4D
  • The $VIX is now running 227 trading days above the 20 handle. It is also working its way quickly into a dead-end descending triangle. These don't really break lower... https://t.co/39Pr7YrQ08
  • WTI Crude amongst the many market participants taking a hit today, down almost 3% $WTI $USD https://t.co/eg2phm1wUO
  • The power of suggestion: even though the market recognized the mistake with mixing Tesla founder Musk's suggestion to use the Signal app with the stock SIGL, it is still trading >2,000% above pre-remark levels and maintains heavy volume. Us speculators are an interesting people
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.07% 🇨🇭CHF: -0.35% 🇪🇺EUR: -0.65% 🇨🇦CAD: -0.75% 🇦🇺AUD: -0.95% 🇳🇿NZD: -1.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6NZVebT00L
  • one final $BTCUSD chart ahead of the weekend bc I think this is going to remain on the move. 35k support has held for now, but prices are testing a big zone of prior resistance (same that held the high on tues morning). break down/out levels in purple below $BTC #Bitcoin https://t.co/TeLrBYJXty https://t.co/MewVjXNrRT
  • Silver selling off during trade, now down over 3% $XAG $USD https://t.co/V69rLJMYcC
Trading Outlook for DXY, EUR/USD, GBP/USD, Gold Price & More

Trading Outlook for DXY, EUR/USD, GBP/USD, Gold Price & More

2018-09-19 11:30:00
Paul Robinson, Strategist

The current environment in USD has been extremely quiet, but look for that to change as monthly ranges are unusually small. There is still plenty of time to go, but barring any major moves monthly ranges are still historically low. This means traders need to approach the market with patience, but be alert as pent up price action won’t last forever. It looks as though the DXY wants to break down, but need confirmation first before running with that outlook. EUR/USD and GBP/USD are highest on the radar. So far this month, gold is in what is viewed as an unsustainable range.

Technical Highlights:

  • USD Index (DXY) looks headed for a breakdown, but need to wait
  • EUR/USD and GBP/USD favored longs on USD weakness
  • Gold price monthly range sets it up for a move

To check out our intermediate-term fundamental and technical outlook on major markets and currencies, see the DailyFX Trading Forecasts.

USD Index (DXY) looks headed for a breakdown, but need to wait

The US Dollar Index (DXY) has been in a brutally small trading range, and if it were to last through the end of the month, it would be as small any monthly range we’ve seen in recent years. The backdrop is being set for a sizable move, so traders need to be on their toes, but patient at the same time. Several support lines were recently broken, with the low at the end of August now under fire. A solid daily close below 94.43 could be enough to spark a run lower and finally open up the range.

US Dollar Index (DXY) 4-hr Chart (Breakdown soon?)

US Dollar Index (DXY) 4-hr chart

EUR/USD and GBP/USD favored longs on USD weakness

EUR/USD continues to press up against resistance in the low-11700s as it appears to strengthening within the choppy range. However, we must wait for a strong breakout to develop before moving forward with a strong long bias. In any event, with the range as small as it is a big move should soon be upon us.

EUR/USD Daily Chart (Pressing on resistance)

EUR/USD daily chart, pressing on resistance

To see what’s been driving the Euro, check out the Quarterly Report

GBP/USD continues to trade higher but is challenging a bullish channel on the 4-hr chart. A the time of discussion this morning it was trading inside of it, but should it close outside of the channel with a big sell bar then it will at least neutralize the situation, if not shift momentum lower.

GBP/USD 4-hr Chart (Bullish channel)

GBP/USD 4-hr chart, bullish channel

See what’s driving GBP in the Quarterly Pound Report

Gold price monthly range sets it up for a move

The range in gold for September at under $25 is extremely tight and unsustainable. It appears likely we will see another move higher in-line with the reversal off the August low, but again, until we see price start showing a meaningful pick up in activity we will remain patient and sit on the sidelines for now.

Gold Daily Chart (Tight range unsustainable)

Gold daily chart, tight range unsustainble

To find out what’s been driving gold, check out the Quarterly Gold Report

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.

DISCLOSURES