• While the S&P 500 is holding to a strict range above its 50-day SMA, volatility for the Dollar has picked up on retail sales. DailyFX's @JohnKicklighter discusses trade today and further out! https://t.co/ZGNx4sLdRP
    DailyFX Thu 16 Sep 2021 15:56
  • The price of gold tumbles to a fresh monthly low ($1755) following the better-than-expected US Retail Sales report. Get your $XAUUSD market update from @DavidJSong here: Link https://t.co/5kwui6D7md
    DailyFX Thu 16 Sep 2021 14:11

    The price of gold tumbles to a fresh monthly low ($1755) following the better-than-expected US Retail Sales report, and bullion may face a further decline ahead of the Federal Reserve interest rate decision on September 22 amid broad based weakness across precious metals.

  • Bitcoin prices rises above key Fibonacci resistance after US CPI (Consumer Price Index) favored speculative. Get your $btc market update from @Tams707 here: Link https://t.co/UEtv75zbjG
    DailyFX Thu 16 Sep 2021 12:56

    Bitcoin (BTC/USD) has risen above critical resistance after the US CPI print boosted demand for speculative assets.

    With inflationary pressures on the rise, next week’s FOMC meeting minutes (22 September) could be a make or break for digital assets if the Federal Reserve hints at near-term tapering.

    However, with softer CPI’s pushing out expectations of tapering, Bitcoin and Ethereum have managed to hold on to recent gains, at least for now.

    Visit DailyFX Education to discover the importance of macro-fundamentals in global markets

  • 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: Link https://t.co/ey3NGwbooR
    DailyFX Thu 16 Sep 2021 12:31

    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. This is also known as “rollover” and forms an integral part of a carry trade strategy. Traders gravitate towards this strategy in the hope of collecting daily interest payments over and above any currency appreciation from the actual trade.

    This article explains FX carry trades with the use of examples and presents a top carry trade strategy to use in your trading.

  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: Link https://t.co/7iqF6KWXAT
    DailyFX Thu 16 Sep 2021 11:31

    There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Each major geographic market center can exhibit vastly unique traits and tendencies that can allow traders to effectively execute strategies at any time.

    Although the forex market is the most liquid of all asset classes, there are periods whereby volatility is constant, and others subdued. Understanding these different forex session times can improve the reliability of a forex trading strategy.

    In this article, we will explore each of these forex market sessions including their key characteristics – forex time zones and how they affect trading.

  • Join @PaulRobinsonFX at 6:00 EST/10:00 GMT for a webinar on becoming a better trader in current markets. Register here: Link https://t.co/CeXXIMXViE
    DailyFX Thu 16 Sep 2021 10:01

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  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: Link https://t.co/K8V8ZcxI25
    DailyFX Thu 16 Sep 2021 09:45

    Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Maintaining a trading checklist presents traders with a list of questions that traders need to answer before executing trades.

    It is important not to confuse a trading plan with the trading checklist. The trading plan deals with the big picture, for example, the market you are trading and the analytical approach you choose to follow. The trading checklist focuses on each individual trade and the conditions that must be met before the trade can be made.

  • Ever wonder if there are other chart types that can be used for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: Link https://t.co/ZvhuPd2rxE
    DailyFX Thu 16 Sep 2021 08:30

    Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Interpreting charts can be intimidating for novice traders, so understanding basic technical analysis is essential. This article reveals popular types of technical analysis charts used in forex trading, outlining the foundations and uses of these chart types.

  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: Link https://t.co/06PMoxdqcJ
    DailyFX Thu 16 Sep 2021 07:45

    Risk management is at the core of any good trading plan, without having a sound set of principles to follow a trader is doomed to fail. We outline rules and factors to consider when customizing a risk management game-plan right for you.

    We understand the difficulties of trading, which is why we’ve put together a variety of guides designed to help traders of all experience levels.

    Risk management is one of the most important aspects to successful trading, but far too often it’s overlooked. Job #1 for a trader is to always keep yourself in the game. A sound strategy and the discipline to follow it will go long way towards ensuring you stick around.

    If you are in the learning stage, your objective is to keep losses very small until you figure out what you are doing from an analytical and strategy standpoint. Adhering to sound risk parameters early-on will go a long way towards building a foundation for later on.

    For the more...

  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: Link https://t.co/wXrH77nfrv
    DailyFX Thu 16 Sep 2021 06:45
    Spreads are based on the buy and sell price of a currency pair.Costs are based on forex spreads and lot sizes.Forex spreads are variable and should be referenced from your trading platform.
  • What is your forex trading style? Take the quiz and find out: Link https://t.co/4dyni7rmMT
    DailyFX Thu 16 Sep 2021 05:45

    Our DNA FX quiz can tell you what type of forex trader is buried within your DNA. Simply answer the 14 questions honestly to learn which style of forex trading you are best suited for.

    If you’re new to forex trading the results will help you develop your trading style and strategies, but even established traders might discover something about themselves they weren’t aware of…

  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: Link https://t.co/PVi6aZEaiW
    DailyFX Thu 16 Sep 2021 04:45

    Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Interpreting charts can be intimidating for novice traders, so understanding basic technical analysis is essential. This article reveals popular types of technical analysis charts used in forex trading, outlining the foundations and uses of these chart types.

  • The Australian Dollar has retraced from August lows when looking at AUD/JPY and AUD/CAD. However, the AUD/NZD downtrend is intact, will a reversal there appear as well? Find out: Link https://t.co/DCxBFKR7s1
    DailyFX Thu 16 Sep 2021 02:30

    The AUD/JPY has stalled on its recent rally as it failed to break through the 200-day simple moving average (SMA) at 82.03 last week. That level is now a potential resistance point as it failed again 2 days later to go higher.

    Above that level is further possible resistance at the 61.8% Fibonacci retracement level of 82.79, calculated from the May high of 85.81 to the August low at 77.90. This retracement level closely coincides with a previous high at 82.82. Further resistance may lie at the previous highs of 84.26 and 85.81.

    Immediate support may be provided at the 21-day SMA of 80.34 and at the previous low of 77.90.

    Chart created in TradingView

    The AUD/NZD remains in a descending channel and there are several trendlines with a negative gradient. In late August, the cross made a new low for the year when it broke through the previous low of 1.0418.

    Trendline support, currently at 1.0310, may lend some potential for a turn higher, and a...

  • Crude and Brent oil are on track to extend higher as Gulf Coast supply disruptions and a positive OPEC report bolster sentiment. Uranium is on a massive surge, aided by the famous Wall Street Bets group. Get your market update from @FxWestwater here: Link
    DailyFX Thu 16 Sep 2021 01:30
    Crude and Brent oil benchmarks gain as broader sentiment improvesTropical Storm Nicholas causing supply, export disruptions in Gulf Coast Uranium stocks gain the attention of the Reddit Wall Street Bets Group
  • Further your forex knowledge and gain insights from our expert analysts on USD with our free guide, available today: Link https://t.co/Z813lWEwb1
    DailyFX Thu 16 Sep 2021 00:30

    Looking to develop your confidence in oil trading and using technical indicators? Our advanced trading guides cover more sophisticated techniques and new concepts to take your trading to the next level.

  • The S&P 500, Dow Jones and DAX 30 could be at risk of falling as retail traders continue increasing their upside exposure in these indices. What are the key technical levels to watch for? Find out from @ddubrovskyFX here: Link https://t.co/HTOkz6nimK
    DailyFX Wed 15 Sep 2021 23:50

    Taking a look at IG Client Sentiment (IGCS), retail traders appear to be increasing upside exposures in major benchmark stock indices such as the S&P 500, Dow Jones and DAX 30. IGCS is typically a contrarian indicator, especially in trending markets. If investors continue buying into recent price action, then there risks being further downside room for these indices. To learn more about using this tool in your own trading strategy, check out the recording of this week’s webinar that I hosted.

    The IGCS gauge implies that roughly 46% of retail traders are net-long the S&P 500. Upside exposure has increased by 10.88% and 31.80% over a daily and weekly basis respectively. We typically take a contrarian view to crowd sentiment. Since most traders are still net-short, it suggests prices may keep rising. However, the recent shifts in positioning are tilting the S&P 500 outlook to the downside.

  • The Australian Dollar touched session lows as Chinese retail sales and industrial production missed estimates. Will the AUD/USD fall more from here? Find out here: Link https://t.co/gm6R3gE98e
    DailyFX Wed 15 Sep 2021 22:50

    AUD/USD moved lower as Chinese year-on-year retail sales came in at 2.5% versus the 7.0% forecast and last month’s 8.5%. Industrial production printed at 5.3% against an expected 5.8% and prior 6.4%. Today’s numbers come against the backdrop of disappointing China PMI data from a fortnight ago. The data has added to already negative sentiment for risk assets in Asia with most equity indices trading in the red.

    The Chinese Communist Party continues to implement its ‘shared prosperity’ policy which has weighed on Chinese equity markets as many sectors are forced to re-adjust to a new set of regulations. Prior to the data today, Chinese gaming stocks had already moved lower on more announcements of tighter scrutiny.

  • The price of oil climbs to a fresh monthly high ($73.14) following a larger-than-expected contraction in US inventories. Get your market update from @DavidJSong here: Link https://t.co/9VMagAGp2H
    DailyFX Wed 15 Sep 2021 21:30

    The price of oil climbs to a fresh monthly high ($73.14) following a larger-than-expected contraction in US inventories, with crude breaking out of a descending channel as fresh data prints point to limited supply.

  • Gold prices are back to near-term resistance in the prior support zone of 1804-1808, and looming above is a really big level at 1834 that’s now turned around four bullish advances in the past few months. More $XAUUSD market updates from @JStanleyFX here: Link https://t.co/rVTyjfxBqE
    DailyFX Wed 15 Sep 2021 20:45

    Gold prices have continued to coil into another week, but that hardly tells the story of what’s going on here.

    There’s rampant debate about when/if/how the Fed is going to begin tapering asset purchases and the backdrop hasn’t exactly been quiet with the delta variant and Afghanistan all producing some risk factors on the horizon. Gold prices have been seeing two-way-volatility on the back of this constant risk conundrum, and the entire outlay produces a number of questions around economic viability of the current recovery.

    Another risk factor popped up last week with what’s happening in China with Evergrande, producing another possible item of concern as Central Banks look to start lifting off of the uber-accommodation that’s become commonplace over the past 18 months. On that topic, we’ll hear from the Fed next week and at this point the basic steps have been laid to allow for the bank to put forth a plan for how they’re looking to taper asset purchases. The big...

  • A cyclical small-cap relief could materialize once the economic recovery stabilizes. A rotation into small-cap could lift the Russell 2000 higher over the medium term. Get your market update from @DColmanFX here: Link https://t.co/s04ZLI7uun
    DailyFX Wed 15 Sep 2021 19:25
    A cyclical small-cap relief could materialize once the economic recovery stabilizesA rotation into small-cap could lift the Russell 2000 higher over the medium termThe bullish Russell 2000 thesis could be played via the IWM ETF
  • Stocks have been on their back foot since last week, but the S&P 500 is catching a bounce today from Fibonacci support. Get your market update from @JStanleyFX here: Link https://t.co/sjovzOvhFV
    DailyFX Wed 15 Sep 2021 18:15
    Stocks have been on their back foot since last week, but the S&P 500 is catching a bounce today from Fibonacci support. Next week brings the FOMC and there’s likely a little caution here as the bank may begin to announce taper plans for 2021. But with the situation around Evergrande rising in importance, there’s now another risk factor for the Fed to contend with. Markets have seemingly shrugged off this risk so far. The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.
  • USD/JPY has been more resilient than I originally expected and is dragging out the consolidation of the symmetrical pattern it’s in. Get your $USDJPY market update from @HathornSabin here: Link https://t.co/K3iM6GvgYj
    DailyFX Wed 15 Sep 2021 16:15

    USD/JPY has been more resilient than I originally expected and is dragging out the consolidation of the symmetrical pattern it’s in. The final leg of the pullback has been extended as the pair found support around 109.115 back in mid-August, but even after accepting a widening of the final arch, sellers have been unable to make a significant breakthrough, which now makes me question whether we will see the pattern fully consolidate in the end.

    USD/JPY Daily chart

    The original target was 108.50 but USD/JPY has been well supported at 109.50 throughout the last month of trading, only managing to finally break below in the trading session this morning. What’s interesting is that most daily candlesticks on this chart have a long tail on either side, which shows reluctance from traders to commit to a direction. Take Tuesday’s candlestick for example, USD/JPY went as low as 109.53 throughout the session but close around 109.74, meaning sellers have had to cover an...

  • Has the S&P 500 broken support or not? Traders eager or fearful of volatility are watching closely but where will conviction come from? DailyFX's @JohnKicklighter discusses NY morning trade! https://t.co/YSB6WOprSd
    DailyFX Wed 15 Sep 2021 15:25
  • GBP/USD is climbing after UK inflation data for August showed the highest jump on record. Get your $GBPUSD market update from @MartinSEssex here: Link https://t.co/xOnMpXRjS7
    DailyFX Wed 15 Sep 2021 15:15
    GBP/USD is climbing after UK inflation data for August showed the highest jump on record.Combined with Tuesday’s strong UK employment numbers, the inflation figures will add to the pressures on the Bank of England to taper its stimulus program and therefore to upwards pressure on GBP.
  • USD/JPY has been more resilient than I originally expected and is dragging out the consolidation of the symmetrical pattern it’s in. Get your $USDJPY market update from @HathornSabin here: Link https://t.co/0Uqa5vLdKl
    DailyFX Wed 15 Sep 2021 14:35

    USD/JPY has been more resilient than I originally expected and is dragging out the consolidation of the symmetrical pattern it’s in. The final leg of the pullback has been extended as the pair found support around 109.115 back in mid-August, but even after accepting a widening of the final arch, sellers have been unable to make a significant breakthrough, which now makes me question whether we will see the pattern fully consolidate in the end.

    USD/JPY Daily chart

    The original target was 108.50 but USD/JPY has been well supported at 109.50 throughout the last month of trading, only managing to finally break below in the trading session this morning. What’s interesting is that most daily candlesticks on this chart have a long tail on either side, which shows reluctance from traders to commit to a direction. Take Tuesday’s candlestick for example, USD/JPY went as low as 109.53 throughout the session but close around 109.74, meaning sellers have had to cover an...

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