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Breaking news

Bank of England Tapers QE Purchases, leaves Bank Rate & APF Target Unchanged

Real Time News
  • $Gold is gearing up for another run at 1800 https://t.co/DTSYevSOAk https://t.co/2wkomdArwd
  • 🇺🇸 Initial Jobless Claims (01/MAY) Actual: 498K Expected: 540K Previous: 590K https://www.dailyfx.com/economic-calendar#2021-05-06
  • 🇺🇸 Jobless Claims 4-week Average (MAY/01) Actual: 560K Previous: 621K https://www.dailyfx.com/economic-calendar#2021-05-06
  • 🇺🇸 Continuing Jobless Claims (24/APR) Actual: 3690K Expected: 3620K Previous: 3653K https://www.dailyfx.com/economic-calendar#2021-05-06
  • 🇨🇿 CNB Interest Rate Decision Actual: 0.25% Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2021-05-06
  • $EURUSD support hold at that 1.2000 spot and then falling wedge reversal fills in. v clean https://t.co/DYgwmx5q78 https://t.co/hSDyTFrBKw
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.97%, while traders in Wall Street are at opposite extremes with 75.53%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SitVyWezLj
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.52% 🇪🇺EUR: 0.45% 🇨🇦CAD: 0.18% 🇬🇧GBP: 0.03% 🇯🇵JPY: 0.00% 🇳🇿NZD: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/MWkCbzgRbd
  • Heads Up:🇺🇸 Initial Jobless Claims (01/MAY) due at 12:30 GMT (15min) Expected: 540K Previous: 553K https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇺🇸 Jobless Claims 4-week Average (MAY/01) due at 12:30 GMT (15min) Previous: 611.75K https://www.dailyfx.com/economic-calendar#2021-05-06
Strategy Video: Identifying Range Trades in Range Conditions

Strategy Video: Identifying Range Trades in Range Conditions

John Kicklighter, Chief Strategist

Talking Points:

• Low volatility and well-establish technical boundaries sets the stage for a market predisposed to range

• Looking for individual opportunities in a range market involves technicals, themes and event risk

• Where EURUSD, AUDUSD and USDJPY have caveats to their ranges; GBPUSD, NZDUSD and the S&P 500 better fit

Find range trading signals and technical formations in DailyFX-Plus. Find Range-based trading strategies that have been coded into Mirror Trader.

Patience is a virtue most traders struggle with. They want trades. Fitting your analysis and seeking setups that fit broader conditions is your best bet for finding active positions rather than optimal scenarios for weeks and months into the future. With a backdrop of persistently low volatility, well establish trends and themes that are currently balanced; we are looking at a bigger picture more conducive to range and congestion positions. In today's Strategy Video, we look at how to establish our market type, filtering individual opportunities and assess some of the majors.

Sign up for John’s email distribution list, here.

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

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