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
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • US Dollar Index extends its recent decline, dips back below 90 $USD $DXY https://t.co/15ZELIVt8q
  • RT @ParikPatelCFA: Indian flowers have patels not petals
  • A chart overlaying Home Depot (HD), who reported better-than-expected earnings before the open, and the active random length lumber futures contract. Time to check the front month on widgets and the levels on DIY video ETFs https://t.co/dcdwSAFjt6
  • While the Nasdaq 100 led the charge from last March’s lows, recent performance has seen the S&P with more strength than the tech heavy index. Get your market update from @JStanleyFX here:https://t.co/zQg5x0L4m1 https://t.co/YOko7o6kMs
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.60% 🇪🇺EUR: 0.59% 🇳🇿NZD: 0.42% 🇦🇺AUD: 0.32% 🇯🇵JPY: 0.30% 🇨🇦CAD: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/xpxW8MeDaQ
  • API Data Release: #Crude +0.620M #Cushing +0.053M #Gasoline -2.837M #Distillate -2.581M
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.15% Silver: 0.06% Oil - US Crude: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/hryjAqlY5x
  • RT @BrendanFaganFx: USD/CAD Analysis: Loonie Strength Continues Ahead of Key Inflation Data Release $USDCAD $CL_F Link: https://t.co/kyj1…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.98%, while traders in EUR/USD are at opposite extremes with 71.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RDpVdSAa8R
  • USD/CAD trading at May 2015 levels. One swing-low lies below, otherwise not much else to look at. Get your $USDCAD market update from @PaulRobinsonFX here:https://t.co/vxjTXnvCJK https://t.co/VG5I0jJKj6
Strategy Webinar: Will US Dollar Weakness Hold into FOMC?

Strategy Webinar: Will US Dollar Weakness Hold into FOMC?

Michael Boutros, Strategist

New to Forex Trading? Get started with this Free Beginners Guide

US Dollar Remains on the Defensive Ahead of FOMC

The US Dollar Index (DXY) has remained on the defensive since the start of the month with price trading just above confluence support at 93.65/89 into the weekly open. Although the medium-term outlook remains weighed to the downside, a near-term recovery is viable while above this threshold with a move higher to ultimately offer more favorable short-entries. Today we took a look across the majors with key event risk this weekly likely to fuel added volatility in the USD crosses. Here are the levels that matter this week.

Key Levels in Focus

DXY – Initial key support at 93.65/89 – break lower targets 92.28/62. Resistance / bearish invalidation at 96.09.

EUR/USD – constructive while above 1.1660s – Initial resistance targets at 1.1791, 1.1850 and 1.1947.

Gold – focus is on a break of the monthly consolidation zone– key resistance still 1215/21. Support at 1186.

AUD/USD – looking for exhaustion / long-entries on a pullback while above the monthly open (7184). Key resistance still 7327/37.

Why does the average trader lose? Avoid these Mistakes in your trading

Highlighting this week’s economic calendar will be the FOMC interest rate decision on Wednesday with the central bank widely expected to hike by 25 basis points. The market has already priced in this move and the focus will be on the updated economic projections on growth, unemployment & inflation and the highly anticipated interest rate dot-plot. In this webinar we review updated technical setups on DXY, EUR/USD, Gold ,GBP/USD, AUD/USD, USD/JPY, NZD/USD, EUR/JPY, USD/CAD, Crude and GBP/AUD.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

Key Event Risk This Week

US Dollar Economic Calendar

Economic Calendar - latest economic developments and upcoming event risk

Active Trade Setups:

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com

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

DISCLOSURES