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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The #AustralianDollar may continue to outperform its haven-associated counterparts after breaking above key chart resistance. $AUDUSD, $AUDJPY, $AUDCHF levels to watch. $AUD https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/09/21/Australian-Dollar-Time-Cycle-AUDUSD-AUDJPY-AUDCHF-Key-Levels.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/wfa6HxnANh
  • HSBC share price tumbled 3.2% after Chinese media agency Global Times reported that Beijing is considering putting HSBC into its Unreliable Entity List (UEL). Hang Seng Index fell 0.7% in early Asia trading hours. https://t.co/zrUCkWmH1w
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/Dx6UMk2g1c
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.53% Oil - US Crude: 0.35% Gold: 0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/BjCmKqaBM8
  • The two-day closure of the Japanese markets suggests that liquidity in both equity and forex could be thin, rendering #USDJPY and #Nikkei225 futures susceptible to large swings, should there be surprising news. Read more here: https://www.dailyfx.com/forex/market_alert/2020/09/21/Nasdaq-100-to-Test-100-Day-SMA--Hang-Seng-and-ASX-200-May-Open-Flat.html https://t.co/5fTJl1ytSe
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.25% 🇦🇺AUD: 0.24% 🇯🇵JPY: 0.20% 🇪🇺EUR: 0.16% 🇳🇿NZD: 0.14% 🇨🇭CHF: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ajs1wgZFD2
  • #Market Snapshot Broad risk-on tilt to kick off a fresh week of trade as the risk-sensitive $AUDUSD jumps back above the 0.73 mark. Haven-linked $USD drifting lower against its major counterparts while $JPY attempts to peg back lost ground. https://t.co/yWVnyRKfbT
  • The US #Dollar may fall if demand for haven-linked assets fall after testimonies from Powell and Mnuchin to the House. Better-than-expected data may compound the Greenback’s selling streak. Get your #currencies update from @ZabelinDimitri here: https://t.co/HRjFvPKlvx https://t.co/n2IMVDqpZn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in NZD/USD are at opposite extremes with 71.11%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/eoCmgXp0MN
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:https://t.co/7kPzAoNoLG https://t.co/QVVQkoSwMW
Strategy Webinar: US Dollar Rally Extends into First Major Hurdle

Strategy Webinar: US Dollar Rally Extends into First Major Hurdle

2018-10-08 15:30:00
Michael Boutros, Strategist
Share:

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

US Dollar Index Testing Key Resistance Early in the Week

The US Dollar Index (DXY) is testing the first of two major resistance targets at 96.13- a level defined by the yearly high-week close and, “a close above this threshold would be needed to keep the long-bias in play with such a scenario targeting parallel resistance (red) / yearly highs at 96.98. Key support still 93.65/89.” The implications are similar for the Euro with the low-week reversal highlighting 1.1436 as a level of interest. Here are the levels that matter this week.

Key Levels in Focus

DXY – Resistance at 96.13 & 96.98 (key) – both areas of interest for possible near-term exhaustion

EUR/USD – Looking for support early in the week while above the yearly low-week close at 1.1436.

Risk is lower sub-1.1603 (weekly reversal close)

USD/JPY – Initial support at 113.08- break lower would expose 112.65. Weekly open resistance at113.76 backed by 114.37/50(bearish invalidation).

Gold –– Looking for price support ahead of 1180 for the long-bias to remain viable. Key resistance / bearish invalidation still 1215.

Crude Oil – Focus remains on key resistance zone at 73.80-74.94to start the week- breach exposes 77.26. Support at 71.10/20 with bullish invalidation at 67.83.

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

In this webinar we review updated technical setups on DXY, TNX (10yr Treasury Yield), EUR/USD, USD/CAD, USD/JPY, AUD/JPY, GBP/AUD, Gold, Crude Oil, GBP/JPY, S&P 500 (SPX) and EUR/AUD.

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

KeyEvent Risk This Week

Economic Calendar

Economic Calendar - latest economic developments and upcoming event risk

Active Trade Setups in Play:

---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