EUR/USD Weekly Technical Outlook – Euro Coiling Price Action is a Good Thing

EUR/USD Technical Highlights: Euro price action continues to contract Waiting for one side of triangle/wedge to give-way 11500-line extremely important Check out our intermediate-term fundamental and technical perspective on EUR/USD in the recently released DailyFX Q3 Euro Forecast. Choppy, contracting price action (wedge/triangle building) can put a trader’s patience to the test, but instead of […]

Gold Prices Dip While Traders Reduce Net-Longs

Traders Net-Short 9% Higher Since Previous Week Spot Gold: Retail trader data shows 86.0% of traders are net-long with the ratio of traders long to short at 6.12 to 1. The number of traders net-long is 2.1% lower than yesterday and 0.3% lower from last week, while the number of traders net-short is 0.8% higher […]

FANG Earnings Offset By Trump’s Commitment to Trade Wars

Talking Points: Google earnings released Monday evening helped leverage risk appetite, but the enthusiasm didn’t hold this past session On the trade wars front, President Trump remarked ‘tariffs are the greatest’ and planned farmer aid suggests no relent Top event risk in Wednesday’s session is the trade meeting scheduled between Trump and key EU officials […]

AUD/USD Technical Outlook: Aussie Holds Critical Price Support

The Australian dollar has maintained its July opening-range just above key weekly support with a strong reversal last week threatening a larger recovery in the Aussie. Here are the updated targets and invalidation levels that matter for AUD/USD heading into the close of the month. Review this week’s Strategy Webinar for an in-depth breakdown of […]

Weekly Trading Forecast: Can Markets Hold Steady Through US GDP with Trade Wars Exploding?

US Dollar Forecast – US Dollar May Rise After Trump Meets Juncker, GDP Growth Soars The US Dollar may return to the offensive as President Trump dials down trade war rhetoric while second-quarter GDP data puts US growth at a four-year high. British Pound Forecast – GBP: Holiday Lull Ahead but Brexit May Break the […]