FXCM/DailyFX Signals and Strategies

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:

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

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 crowds 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 crowds 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.

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

Talking Points:

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

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

Talking Points

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

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

EUR/CAD Bulls Brace for ECB- Rally Vulnerable Sub 1.4955



Technical Outlook

1. EUR/CAD is trading into resistance of a descending formation off the September highs
2. Resistance confluence & Bearish invalidation at 1.4956/80
3. Key support 1.4561/90- Break lower targets objectives at 1.4450 / ML support & 1.4891
4. A breach higher shifts focus back towards targets into the September high-day close at 1.5095
5. Key Event Risk Ahead: European Central Bank (ECB) Interest Rate Decision & Canada Retail Sales tomorrow & Canada Consumer Price Index (CPI) on Friday

The table above is from John Kicklighter's post-FOMC analysis on DailyFX.com.

Our retail forex trader data warns that the Euro will likely continue lower as the US Dollar rallies across the board.

Quantitative strategist David Rodriguez discusses his sentiment-based outlook for the Euro and other major currencies in his Weekly Speculative Sentiment Index (SSI) report.

EUR/USD's second-worst month of the year is November.

For more details, see Christopher Vecchio's article on DailyFX.com

Talking Points

1. GBP/USD holding descending channel ahead of key Event Risk
2. Updated targets & invalidation levels
3. Event Risk on Tap This Week

The Speculative Sentiment Index (SSI) reveals that retail forex traders remain heavily short the US Dollar. The latest analysis by David Rodriguez on DailyFX.com points to continued USD gains against these key currencies.

16 terabites of computer on fiberoptic and charts lock solid at 2.30 exactly (non farm)dont unlock again until 2.42 exactly this is not on fxcm .The strange thing is my system is only allergic to fxcm, tallinex seems to run fine .Even stranger loseing trades seem to run without problems ,i wonder if we can be enlightend as to how this can be.

Hi Mm8,

Thanks for your post. I'd be happy to arrange for an FXCM tech specialist to follow up with you to troubleshoot this issue you're having with our platform. Please send me a private message with your contact details.

Thanks,
Jason

Talking Points

1. Weekly Scalp Webinar archive covering featured setups post NFP
2. Updated targets & invalidation levels
3. Event Risk on Tap This Week

AUD/JPY Flirting with Pivotal Support


Daily Chart


Technical Outlook

1. AUD/JPY holding below channel resistance off the October high
2. Interim support 86.13/28- Break lower targets 85.46 & 84.58/72
3. Resistance at 87 backed by near-term bearish invalidation 87.43/50
4. Daily RSI support-trigger pending- break would be bearish
5. Key Event Risk Ahead: Aussie Unemployment tomorrow and Japan Industrial Production & GDP later this week

Forex Positioning Warns that the US Dollar May Lose Further


See full analysis in this week's Speculative Sentiment Index (SSI) report by David Rodriguez on DailyFX.com

The Top Three Risks Facing Global Markets Right Now

Today, currency analyst James Stanley discusses what he considers the top three risks facing global markets right now.

RISK #1: Liquidity

For more details on all 3 risks identified by James Stanley, see his article on DailyFX.com.

Can a Trader Take Advantage of the IMFs Chinese Yuan Decision?

There is no doubt that Yuan joining SDR basket is a milestone event, but for investors and traders, how would you benefit from this new development?

In her latest article on DailyFX.com, Renee Mu discusses a list of opportunities that you may be able to use to invest in China at the moment or in the near future.

EUR/USD Stares Down A Big Week

In his article on DailyFX.com, head forex trading instructor Jeremy Wagner discusses the big week for EUR/USD.



"As we look through the technical patterns, it appears the higher probability move is for a couple hundred pips of US Dollar weakness. This could send the EUR/USD higher towards 1.08-1.09."

How to Be Ready for the ECB

Tomorrow's ECB meeting is looking to be one of the more significant European announcements in months, if not years.



Currency analyst James Stanley discusses how to prepare for it in his article today on DailyFX.com.