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
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
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
Mixed
GBP/USD
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
USD/JPY
Mixed
More View more
Real Time News
  • 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/nHXiNJhLes
  • 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/h0TmJcZeqr
  • $USDCAD sold off aggressively last week, putting it into position to test the important 2017 low; trading bias is neutral to bearish. Get your market update from @PaulRobinsonFX here: https://t.co/sphxUAW9TB https://t.co/ZhsTeJOOM8
  • 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/qP96xmgDVn
  • The pro-risk Australian Dollar may extend gains after the record miss in US jobs data, amplifying dovish rhetoric from the Federal Reserve and keeping the Dow Jones and S&P 500 intact. Get your market update from @ddubrovskyFX here: https://t.co/yf8mPX3O3W https://t.co/uCCmjaxUhF
  • Who else is keeping close tabs on Dogecoin $DOGE this weekend? All eyes on Elon Musk @elonmusk, the proverbial 'Dogefather,' and his Saturday Night Live @nbcsnl performance kicking off at 11:30PM ET. The #crypto is already looking nice and perky following that trendline break! https://t.co/nrQsnlUqWj https://t.co/4lOz6NLQTG
  • There is some very interesting event risk over the opening half of this coming week of trade. It starts with Elon Musk hosting SNL tonight for Dogecoin traders and moves into US inflation data to as means to stir the ongoing Fed debate and Dollar https://www.dailyfx.com/forex/video/daily_news_report/2021/05/08/Dollar-Tumbles-Dow-Hits-Record-Highs-and-Dogecoin-Traders-Tune-In.html https://t.co/LXhjv7ToWC
  • It was a big week for Gold bulls and Gold prices broke out to fresh two-month-highs, finally taking-out the 1800 level along the way. Get your market update from @JStanleyFX here: https://t.co/D222Ni37Dv https://t.co/KcMYyx3Ro4
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/PjywaPeUsl
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/AjOSPzOFLb
Weekly Trade Levels: US Dollar, EUR/USD, AUD/USD, Gold & Oil Prices

Weekly Trade Levels: US Dollar, EUR/USD, AUD/USD, Gold & Oil Prices

Michael Boutros, Strategist

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

US Dollar Battle Lines Drawn - Gold Breakout Eyes Initial Topside Targets

US Dollar opens the week at support – Euro & Gold at resistance and the stage is set heading into start of US trade on Monday. In this webinar we review updated technical setups on DXY, EUR/USD, AUD/USD, Gold, Oil (WTI), USD/CAD, USD/JPY, EUR/NZD and GBP/JPY.

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

Key Trade Levels in Focus

DXY – A break below daily confluence support at the 97-handle is needed to fuel the next leg lower targeting the 61.8% retracement at 96.52. Resistance at 97.87 with near-term bearish invalidation now lowered to 98.12.

EUR/USD – Euro testing downtrend resistance- A topside breach above 1.1265 is needed to validate a breakout. Support at 1.1160 with a break / close below 1.1106 suggesting resumption of the broader downtrend.

AUD/USD – Aussie’s reversal off confluence support last week remains in focus with our immediate attention on a break of the 6733-6855 rage for guidance.

GoldGold prices are testing near-term uptrend resistance at 1509 with more significant lateral resistance eyed at 1522/26- looking for a more significant reaction there IF reached. Initial support at 1482 with bullish invalidation now raised to 1451.

OilCrude Oil prices responded to major support last week with the recovery now challenging near-term down-trend resistance- breach above 56 needed to validate a larger move. Key support steady at 51.67.

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

Economic Calendar

Economic Calendar - latest economic developments and upcoming event risk

Learn how to Trade with Confidence in our Free Trading Guide

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

Follow Michael on Twitter @MBForex

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

DISCLOSURES