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
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
More View more
Real Time News
  • 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/lccPTTlvj0
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX here: https://t.co/WIKdSesfkJ https://t.co/Fx0qr32xgI
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/IRS9MaA7h8
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here: https://www.dailyfx.com/forex/fundamental/forecast/weekly/CHF/2021/09/18/Gold-Price-Outlook-Hinges-on-Fed-Rate-Decision-Forward-Guidance.html https://t.co/dWWxtErjK0
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/4qxwiJsV1K
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/stMPuq0VXR
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/v6RGICQvge
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/rws9LHJV3E
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2021/09/18/Japanese-Yen-Forecast-JPY-Crosses-Eye-BoJ-CPI-as-Haven-Flows-Bolster-Yen-Strength.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/FVisZuTP6M
Charts for Next Week: EUR/USD, USD/CAD, Gold Price & More

Charts for Next Week: EUR/USD, USD/CAD, Gold Price & More

Paul Robinson, Strategist

The Euro is backing down near support, may get a bounce from here or a little lower; overall though a broader bearish configuration is in the works. USD/CAD is failing to muster much strength after its fall to start the year; looking for it to trade lower. Gold is finally making a move out of a triangle and with it volatility at the least should pick up, with lower as the initial bias.

Technical Highlights:

  • EUR/USD nears support, broader bearish pattern coming into view
  • USD/CAD short-term price action suggests more weakness soon
  • Gold breaking out of triangle, levels to watch

See where our team of analysts see your favorite markets and currencies headed in the months ahead on in the Q1 Trading Forecasts.

EUR/USD nears support, broader bearish pattern coming into view

The Euro is trying to come off a top-side test of a trend-line from March, but even if it does the outlook is mired by choppy price action. There is a tilt higher to the chart, but overall within the context of the broader one-year trend a bear-flag is coming into view. It won’t be validated though until the lower trend-line from November is broken.

Check out the recently released Q1 Euro Forecast to see our analysts’ intermediate-term fundamental and technical outlook.

EUR/USD Daily Chart (Broader bear-flag building)

EUR/USD daily chart, broader bear-flag building

USD/CAD short-term price action suggests more weakness soon

The plunge to start the year is failing to find any takers to push USD/CAD back higher. The tepid recovery is taking on the shape of a bear-flag and setting up for price to extend lower to the February trend-line, 200-day combo.

USD/CAD Daily Chart (Trend-line/200-day targeted on breakdown)

USD/CAD daily chart, trend-line/200-day targeted on breakdown

Check out the recently released Q1 USD Forecast to see our analysts’ intermediate-term fundamental and technical outlook.

Gold breaking out of triangle, levels to watch

Gold is cracking down out of a triangle and headed for a test of the upper parallel dating back to the summer, along with this lies a trend-line from November and the low from the day which kicked off the development of the triangle. A break below 1276 will be needed to accelerate the move lower.

Check out the recently released Q1 Gold Forecast to see our analysts’ intermediate-term fundamental and technical outlook.

Gold 4-hr Chart (Triangle break)

Gold 4-hr chart, triangle break

Gold Daily Chart (Support in focus below)

Gold daily chart, support in focus below

Resources for Forex & CFD 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