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
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
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
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • The retailer has created an event that sees its sales surpass Black Friday and Cyber Monday combined. Get your market update from @PeterHanksFX here:https://t.co/LCyr0z9DHh https://t.co/xDTXRH1TEj
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.44% 🇳🇿NZD: 0.43% 🇪🇺EUR: 0.19% 🇬🇧GBP: 0.11% 🇨🇭CHF: -0.03% 🇯🇵JPY: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/CoczW1YszK
  • US API Stock Changes: #Crude -7.199M #Cushing -2.550M #Gasoline +0.959M #Distillate +0.992M #Oil $CL_F
  • Bitcoin breached the key psychological level of $30,000 for the first time since January The Jan 22 swing low of $28,800 came in to help cauterize support. Get your market update from @PeterHanksFX here:https://t.co/zmlplL9ZqD https://t.co/6R5nFtVFYS
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.37% Gold: -0.28% Silver: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/K9Qw88fR9n
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.01%, while traders in France 40 are at opposite extremes with 68.82%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HWcth7b6kv
  • WH Press Sec. Psaki: - More work remains on infrastructure after meeting - Today or tomorrow, a White House team will meet with Senators from both parties
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.01% Wall Street: 0.01% Germany 30: -0.11% France 40: -0.19% FTSE 100: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/HdfL6Ct6sE
  • McKesson said to explore sale of European, UK businesses -BBG $MCK $EURUSD $GBPUSD
  • EUR/GBP continues to trade towards the bottom of the trading range. Sentiment remains ‘mixed’ after near term decline in long positioning. Get your market updates from @RichardSnowFX here:https://t.co/i7uESnbkBE https://t.co/rdqrIAUnuG
Technical Analysis for EURUSD, AUDNZD, Gold Price, S&P 500 & More

Technical Analysis for EURUSD, AUDNZD, Gold Price, S&P 500 & More

Paul Robinson, Strategist

This past week the Euro has been stuck in an unusually and unsustainably tight range, breakout imminent. AUDNZD is a pair I’ve been tracking for a while, and with double daily reversal bars recently it should be ready for another leg lower in the sessions to come. Gold was once a champ on the top-side but has found saturation around big long-term levels, this has an important test of channel support likely to unfold in the days ahead.

Technical Highlights:

  • EURUSD tight range to break very soon
  • AUDNZD looking to make good on reversals at prior support
  • Gold is trading heavy, test of important support likely soon
  • S&P 500 turned off 2800/17 zone yesterday

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

EURUSD tight range to break very soon

The Euro has been stuck in a very tight range, an unsustainable situation. There were a couple of scenarios we discussed today based on the 4-hr chart. If the ascending wedge resolves higher EURUSD will quickly run into trend-line resistance and could make for a pop-and-drop false breakout, while a break of the lower-side trend-line of the pattern will have it moving back downhill in-line with the broader trend.

EURUSD 4-hr Chart (Wedging)

EURUSD 4-hr chart, wedging

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

AUDNZD looking to make good on reversals at prior support

AUDNZD posted back-to-back reversal days around former support (now resistance), with the latter candlestick the most convincing. As long as price doesn’t close above 10490 look for pressure to remain on the cross, with the bigger picture objective for a move to develop down to parity or worse.

AUDNZD Daily Chart (path of least resistance is lower)

AUDNZD daily chart, path of least resistance is lower

Gold is trading heavy, test of important support likely soon

Gold posted a weekly reversal bar last week, but still has solid trend support not far below. Looking for a test of the November trend-line to occur soon, and with it we will see what gold is made of. A breakdown will confirm and further along last week’s reversal and potentially send gold materially lower.

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

Gold Daily Chart (support test coming)

Gold daily chart, support test coming

S&P 500 turned off 2800/17 zone yesterday

The S&P traded up into the 2800/17 zone yesterday and found sellers as anticipated. We’ll find out very soon as to whether they want to show up in larger numbers and finally test the rally off the December low. In tomorrow’s weekly indices & commodities webinar I’ll delve further into the situation…

S&P 500 Daily Chart (2800/17 zone is significant)

S&P 500 daily chart, 2800/18 zone is signficant

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

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