DailyFX Roundtable: U.S. 3Q GDP Implications for Fed & USD Outlook

Date: 2017-10-27 15:13:10

Join DailyFX Strategists Michael Boutros and David Song to cover the advance 3Q U.S. Gross Domestic Product report along with a preview for the FOMC meeting.

#news #GDP #USD #FOMC #EUR #ECB #JPY
@DavidJSong
@MBForex

Webinar: A Packed Week including UK Super Thursday, FOMC and NFPs

Date: 2017-10-27 12:15:10

#news
@nickcawley1

Forex: Top FX Headlines: DXY Bottoming, EUR/USD Topping Patterns Point to USD Strength: 10/27/17

Date: 2017-10-27 11:07:28

– US Treasury yields continue to push higher supporting more US Dollar strength, with the 2-year yield at its highest level since 2008 and the 10-year yield at its highest level since March.
– British Pound may be facing a ‘buy the rumor, sell the news’ event in the BOE rate decision next week.

#forexnews
@CVecchioFX
@DailyFX
@DailyFXTeam

The ECB’s Decision Helped the Dollar, Afterhours Earnings Give Stocks a Charge (Forex Trading Video)

Date: 2017-10-26 22:48:28

Talking Points:

• Speculative appetite has not gathered any deeper conviction since before I went on leave, but volatility is increasing
• Earnings haven’t given much drive to markets beyond a slow burn, but an afterhours mix including Amazon may lead to a gap
• The Dollar was one of the most productive major currencies this past session – with a key DXY break – but what drove it?

What are the DailyFX analysts’ fundamental and technical forecasts for the Dollar, Euro, equity indexes and more through the fourth and final quarter of the year? Download the recently-released 4Q forecasts on DailyFX. (https://www.dailyfx.com/free_guide-tg.html?ref-author=Kicklighter)

Trading the U.S. Dollar Breakout – Price Action Setups (Oct. 26, 2017)

Date: 2017-10-26 18:53:34

– This is one of the many DailyFX webinars that we host each week, most of which are completely free to all traders. If you’d like to attend this event in the future, or if you’d like to find another of our webinars that may fit your trading style even better, please check out our DailyFX Webinar calendar to find the best session for you.

– The first market that we looked at was the U.S. Dollar as DXY was in the process of driving-up to fresh three-month highs. Tomorrow brings U.S. GDP, and next week brings a Fed meeting with few expectations for anything new. More interesting, however, is the Fed’s December meeting and the near-100% probability that’s currently showing for a move around that rate decision. This, combined with the Fed’s persistent hawkishness towards 2018, and now added in with a dovish European Central Bank – can allow for deeper movement of USD-strength. We looked at a couple of different ways of confirming this theme, using near-term price dynamics and their relation to the big zone of prior resistance that runs from 94.08-94.30.

– We then moved over to EUR/USD, which was in the process of breaching the bottom side of the support zone that we’ve been following. This is likely related to the fact that the driving factor behind the pair’s 2017 bullish trend, the prospect of stimulus exit from the ECB, has just gotten kicked out to some point in the future. This can provide a softened backdrop for the single currency, and this could lead to a deeper retracement in the pair. EUR/USD has Fibonacci retracements around 1.1425 and 1.1215 that are interesting for longer-term higher-lows.

– We then moved over to AUD/USD, which can remain as attractive for long-USD scenarios. We discussed this setup in an Analyst Pick earlier in the week, and in the webinar, we discussed how current price action can be used in a bearish approach on the pair.

– We then looked at NZD/USD, which has cratered in the wake of Jacinda Ardern. Ms. Ardern had the recent comment that ‘capitalism is a blatant failure’, and while the context is important, this is generally not the type of leadership that attracts capital flows into an economy. And this really echoes the NZD/USD spot rate that’s dropped like a rock through numerous levels and areas of support. We looked at a couple of mannerisms to investigate for the bearish continuation side of the pair.

– We then looked at USD/JPY, which is noticeably missing from this recent strong-Dollar party. USD/JPY continues to catch resistance at the 23.6% retracement of the 2016 low to the 2017 high; and this is an area that had twice helped to turn around bullish advances in USD/JPY. I need to see this zone of resistance broken before I can investigate bullish approaches on the pair; but if that happens, higher-low support around 114.03 can become an attractive prospect.

– USD/CHF is in the process of breaking out, and while EUR/USD gyrates below a big zone of resistance, Swissy has been flying-high for the better part of the past two weeks. A re-test of parity appears to be in the cards, and we looked at a couple of levels that can be used to look for ‘higher low’ support in the continued bullish move.

– We then looked at USD/CAD, which put in a significant topside rip after yesterday’s BoC rate decision. The pair feels very overbought at the moment, so those looking to chase should remain cautious. A test of prior resistance as fresh support opens the door for topside setups.

– EUR/JPY is getting crushed today. But this is one of the few Euro-reversals on my radar, as that Yen-weakness could potentially offset some of the selling pressure in the Euro, if not eclipse it altogether. But – we need some evidence of support first, as looking to buy right now could be tantamount to trying to catch a javelin. We looked at this scenario in yesterday’s technical article on the pair, and because no support showed at the first of the levels we looked at 133.50, the only area of support ahead of the confluent zone is around 132.50. But – if support shows, stops can be looked at below the big zone of support from 131.71-132.05 for bullish reversals of this near-term sell-off.

– We then looked at GBP/USD, which is still rather messy. I need a directional move before I can start to look at setups here. I’m looking for a topside break of 1.3350 for bullish setups and a bottom-side run below 1.3000 to open the door for shorts.
#news #trading #forex #fx #euro #eurusd #usdollar #dollar #priceaction #technicalanalysis #audusd #nzdusd #usdcad #ecb #fomc
@CVecchioFX
@DavidJSong
@MBForex
@JamieSaettele
@JohnKicklighter
@ilyaspivak
@ForexYell
@JStanleyFX
@DRodriguezFX
@PaulRobinsonFX

Becoming a Better FX Trader: Q&A Session

Date: 2017-10-26 12:03:30

Today, we discussed a host of topics pertaining to trader performance; risk management, psychology, analysis techniques, and more. @PaulRobinsonFX

Top FX Headlines: Preview for October ECB Meeting and Outlook for EUR-crosses: 10/26/17

Date: 2017-10-26 10:44:06

– No change in rates expected today, but it is widely anticipated that the ECB will announce a taper to its QE program.
– ECB President Draghi’s press conference and the details he reveals with respect to the taper will fully determine which way the Euro trades.

#forexnews
@CVecchioFX
@DailyFX
@DailyFXTeam

Forex : ECB Preview: Euro Outlook Hinges on QE Exit

Date: 2017-10-25 18:05:22

Join DailyFX Currency Analyst David Song for a preview of the European Central Bank (ECB) interest rate decision.

#news #ECB #EUR #USD
@CVecchioFX
@DavidJSong
@MBForex
@JamieSaettele
@JohnKicklighter
@ilyaspivak
@ForexYell
@JStanleyFX
@DRodriguezFX
@PaulRobinsonFX

Live Data Coverage: Bank of Canada Rate Decision

Date: 2017-10-25 15:47:16

Join DailyFX Currency Analyst David Song to cover the Bank of Canada (BoC) interest rate decision.

#news #BoC #USDCAD
@DavidJSong

Webinar: Mid-Week Trading Q&A: GBP After UK GDP, EUR Ahead of ECB Tomorrow: 10/25/17

Date: 2017-10-25 14:25:30

DailyFX Senior Currency Strategist Christopher Vecchio, CFA reviews the performance of markets in the first half of the week, as well as the outlook for key FX pairs in the second half.

The first few days of the week have been rather quiet, again, but the rest of the week is saturated with significant event risk that will move FX markets. The Bank of Canada rate decision today will help clarify rate expectations for the rest of 2017, while the European Central Bank rate decision tomorrow will bring forth news on the pace of the QE stimulus program.

Other topics covered include:

– What has been the main driving factor behind the US Dollar rise in recent days?
– What should traders expect out of the ECB meeting on Thursday?
– How will the BOE’s rate hike next week impact recently bullish GBP-crosses?

#forexnews
@CVecchioFX
@DailyFX
@DailyFXTeam

Technical Outlook for US Dollar, EUR & GBP Crosses, Gold, and More

Date: 2017-10-25 10:37:17

We focused our attention on DXY, Euro heading into tomorrow’s ECB meeting, USD-pairs, EUR & GBP crosses; light coverage of gold/silver and indices. @PaulRobinsonFX

Webinar: UK GDP Data Increase Likelihood of UK Rate Rise

Date: 2017-10-25 09:12:42

Talking Points:
– UK GDP expanded by 0.4% in Q3, above the 0.3% predicted and above the previous 0.3%.
– That makes an interest rate increase by the Bank of England on November 2 even more likely and that strengthened the British Pound.
– In this webinar, DailyFX Analyst and Editor Martin Essex looked at the data before and after their release, plus their impact on interest rates and the currency.
#news
@martinsessex