FXCM/DailyFX Signals and Analysis

[Jason Rogers]

Technical Focus on Crude Oil



Talking Points

• Crude oil breaks resistance
• Watch for support near $47 per barrel
• Visit DailyFX.com for more analysis and trade setups

 

[Jason Rogers]

The DAX is Dancing on a Trend-Line of Disaster


As you can see in the chart below taken from James Stanley's article on DailyFX.com, the past year has brought on two very different trends into German equities; as a breakneck up-trend was quickly began to fade out of the market after setting a new all-time high at 12,398.

This top provided a 48.5% movement higher in less than 6 months from the lows set on October 16th of last year. And since then, we’ve seen another trend develop, this time in the opposite direction, that’s seen -19.4% of the indexes value evaporate in the past six months.

Should the near-term weakness that’s been seen in the DAX continue to develop into even more economic pain, and should Central Bankers, led by the Fed, fail to provide support to global risk trends, the DAX may have more pain in its future. The October 2014 low could provide a very adequate near-term target at 8,351, and that’s ~16% off of current levels.

 

[Jason Rogers]

USD/JPY – Japanese Yen Eyes Gains versus the US Dollar


The US dollar finds itself on increasingly shaky footing as the retail crowd takes on more long USD exposure.

Latest Readings from the Speculative Sentiment Index (SSI)

The Japanese yen eyes gains versus the US dollar. The ratio of long to short positions in the USD/JPY stands at 2.28 as 70% of traders are long.

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

Yesterday the ratio was 1.98; 66% of open positions were long. Long positions are 5.4% higher than yesterday, and short positions are 8.5% lower than yesterday.

SSI is a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the USD/JPY may continue lower.

 

[Jason Rogers]

Webinar: USD Weakness Targets Key Support- Comm Bloc Overstretched?



Talking Points

• Weekly DailyFX Scalp Webinar archive covering featured setups
• Updated targets & invalidation levels
• Event Risk on Tap This Week

 

[Jason Rogers]

EUR/GBP short trade setup

DailyFX chief currency strategist John Kicklighter tweeted this chart setup today:

"Started a short in $EURGBP with 100 pip stop. If it confirms a turn, I'll build it up. Details in trading video"

To get the latest updates on all his trading ideas, you can follow John Kicklighter on Twitter.

 

[Jason Rogers]

Oil Set To Gush on Break of 200 DMA

Today in his article on DailyFX, forex trading instructor Tyler Yell discusses the following talking points:

• Crude Oil Technical Strategy: Setting Up For Breakout
• WTI / Crude Oil Holding RSI(5) Support at 40 Into Support
• Support (Daily Close Basis) Focus $45.65-$46.15

 

[Jason Rogers]

Retail Crowd Positioning Shifts Keep Focus on US Dollar Downside


Below is an excerpt from Christopher Vecchio's weekly update on the Speculative Sentiment Index (SSI).

The retail crowd’s shift into heavier net-long US Dollar positions last week coincided with the start of the next leg lower across the USD-complex.

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

With these small speculators continuing to add to net-long US Dollar positions amid weakness, we still prefer to fade the crowd’s recent positioning shifts. As such, further declines in various USD-pairs in the days ahead seems like the likely outcome.

The ratio of long to short positions in the USDJPY stands at 2.79 as 74% of traders are long. Yesterday the ratio was 2.63; 72% of open positions were long. Long positions are 3.2% higher than yesterday and 10.5% above levels seen last week. Short positions are 2.9% lower than yesterday and 9.7% below levels seen last week.

We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the USDJPY may continue lower. The trading crowd has grown further net-long from yesterday and last week. The combination of current sentiment and recent changes gives a further bearish trading bias.

 

[Jason Rogers]

GBP/USD Threatens Bearish RSI Formation- BoE Testimony in Focus



Talking Points:

• GBP/USD Threatens Bearish RSI Formation- BoE Testimony in Focus.
• EUR/USD Pullback Eyes Former Support- Dovish ECB on Tap?
• USDOLLAR Mounts Larger Rebound Ahead of Fed Rhetoric.

 

[Jason Rogers]

NZD/CAD Posts Outside Day Reversal Pre-BoC; Shorts Face 8700 Hurdle

Talking Points

• NZD/CAD posts reversal candle off key resistance- scalps favor shorts
• Updated targets & invalidation levels
• Event Risk on Tap This Week

 

[Jason Rogers]

The latest version of Trading Station Desktop is now available for download.


We've made 176 performance enhancements to improve order execution and further stabilize the platform, along with many other polishes to functionality to optimize your trading experience. Below are a couple of the new features.


Good-Till-Date Entry Orders

​

Market Behavior Indicators

​