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
Bullish
Oil - US Crude
Bearish
Wall Street
Bullish
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
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • The $VIX can't continue to trace out this coasting pattern for long. Again, I don't usually throw technical analysis on indicators derived from underlying activity, but VIX has become a trading vehicle in its own right https://t.co/qBvMeOCmmW
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 0.31% Oil - US Crude: -0.08% Gold: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DpPoyNP5hl
  • After a strong breakout this summer, Gold prices have now spent almost six months digesting. Get your $XAUUSD market update from @JStanleyFX here:https://t.co/H7k5kv4N5i https://t.co/shvReKpe1U
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 70.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ivQLPokYOs
  • The US Dollar is now trading lower again. After hitting an intraday low around 90.15, the $DXY rebounded to 90.25 but has turned toward again, falling back below 90.20. $USD https://t.co/xyglMBmakL
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.14% Wall Street: 0.06% US 500: 0.03% Germany 30: 0.02% FTSE 100: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SbFlX1iTdj
  • #Gold is consolidating slightly higher this week, around $1,850, after the precious metal's failed attempt at breaking above the $1,870 level last week. $XAU $GLD https://t.co/MyeWiBSQZR
  • US 10yr yields have notably tightened, falling from 1.10% yesterday to trade around 1.04% today. Yields still remain elevated in 2021 compared to earlier in the pandemic. $GOVT $IEF $USD https://t.co/uT27KDUkhM
  • Hey traders! Get your Tuesday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/WPk9aapKhs
  • $EURGBP is currently trading around 0.8855, nearing the lows set around 0.8840 last week. A break below this level would mark the pair's lowest level since May. $EUR $GBP https://t.co/QinuctvrVK
USD, EURUSD, GBPUSD & More – Charts for Next Week

USD, EURUSD, GBPUSD & More – Charts for Next Week

Paul Robinson, Strategist

It was a relatively volatile week with several headlines to keep everyone on their feet (namely FOMC/Trump, Trade War). The Dollar hit an extreme and reversed course Wednesday/Thursday, which increases the likelihood of a decline. The Euro hit support and looks poised try and recover, GBPUSD looks similarly.

Technical Highlights:

  • DXY breakout looking vulnerable to selling
  • EURUSD hits underside t-line, poised to recover
  • GBPUSD oversold at long-term support zone

See where our team of analysts see your favorite markets and currencies headed in the in the DailyFX Trading Forecasts.

DXY breakout looking vulnerable to selling

The US Dollar Index (DXY) broke out on Fed day, but that is quickly coming under fire and soon the area around 98 may break. On a breakdown the initial target will be the trend-line coming up off the June low near 97.60.

DXY Daily Chart (breakout at risk of failing)

USD, EURUSD, GBPUSD & More – Charts for Next Week

U.S. Dollar Currency Index (DXY)

EURUSD hits underside t-line, poised to recover

The Euro is the main driver behind the DXY at a hefty 57% of the index weighting, so naturally a bearish DXY outlook will coincide with a bullish EURUSD outlook. Yesterday, price put in a reversal at a long-term underside trend-line, which has the good. The bad is that lows from April and May are acting as resistance. Tough spot for traders. But, the bigger picture support looks poised to win out and on that a smallish rally to ensue.

EURUSD Weekly Chart (coming off support line)

USD, EURUSD, GBPUSD & More – Charts for Next Week

EURUSD Chart by Tradingview

EURUSD Daily Chart (caught under prior lows)

USD, EURUSD, GBPUSD & More – Charts for Next Week

EURUSD Chart by Tradingview

GBPUSD oversold at long-term support zone

Lots of support down here, but the zone is fairly sizable. It extends from current levels down to just above the 11900-mark. Price action is still weak but that could quickly change. With Cable having fallen down to this point so sharply it is oversold, and on that price support coupled with bullish price action creates an appealing case for a recovery to develop.

GBPUSD Daily Chart (Big support at its feet)

USD, EURUSD, GBPUSD & More – Charts for Next Week

GBPUSD Chart by Tradingview

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