Best Thread FXCM/DailyFX Signals and Strategies

[Jason Rogers]

The Breakout2 strategy on Mirror Trader can be used to signal or confirm trade setups

Just an update on yesterday's post: Breakout2 went long NZD/USD at 0.84864

Past performance is not necessarily indicative of future results.

 

[Jason Rogers]

US Dollar at Big Turning Point versus Euro

It's Thursday which means the weekly update of the Speculative Sentiment Index (SSI) was posted today on DailyFX.com

Past performance is not necessarily indicative of future results.

Retail forex traders remain extremely long the US Dollar across the board warning of potentially big moves ahead.

Past performance is not necessarily indicative of future results.

If EUR/USD closes above 1.3970, that could sound the all clear in favor of further rallies.

Past performance is not necessarily indicative of future results.

Indeed, going against the crowd remains attractive as long as the single currency remains above key support at 1.3830.

 

[Jason Rogers]

DailyFX Individual Currency Pair and Trading Strategy Bias

Every Monday, quantitative strategist David Rodriguez shares his trading strategy bias for the week on DailyFX.com

Below are the DailyFX+ trading strategies he believes will work best for individual currency pairs based on current market conditions.

All of the SSI-based strategies above can be automated on your FXCM account via the Mirror Trader platform.

 

[Jason Rogers]

All Eyes on Fed as US Dollar Near Major Support versus Japanese Yen

Past performance is not necessarily indicative of future results.

 

[Jason Rogers]

USD Sets Key Low on Upbeat FOMC; Key Levels to Watch

Past performance is not necessarily indicative of future results.

 

[Jason Rogers]

Gold Prices Likely Set Significant Peak

Retail traders have bought aggressively into recent Gold price declines versus the US Dollar. Notice how in the image below the Speculative Sentiment Index (SSI) flipped from being negative (brown bars mean traders are net short) to being positive (green bars mean traders are net long).

Past performance is not necessarily indicative of future results.​

This important shift in sentiment suggests that the XAU/USD exchange rate likely set an important peak. The majority of traders had turned short Gold as it crossed above the $1275 level, so that could possibly act as a price target to the downside now.

 

[Jason Rogers]

Retail traders have bought aggressively into recent Gold price declines versus the US Dollar. Notice how in the image below the Speculative Sentiment Index (SSI) flipped from being negative (brown bars mean traders are net short) to being positive (green bars mean traders are net long).

Past performance is not necessarily indicative of future results.​

This important shift in sentiment suggests that the XAU/USD exchange rate likely set an important peak. The majority of traders had turned short Gold as it crossed above the $1275 level, so that could possibly act as a price target to the downside now.

An update on my post last week regarding Gold, the DailyFX team just tweeted the following:

$XAUUSD falls to a new monthly low at 1310.21 and may next find support by the 200-day moving average at 1298.58.

To follow all their latest trading ideas, you can follow the DailyFX team on Twitter @DailyFXTeam

 

[Jason Rogers]

Is this Australian Dollar Rally the Real Deal? Probably Not

The Australian Dollar trades at critical trendline and moving average resistance versus the US Dollar, but key correlations suggest it will run out of steam.

Past performance is not necessarily indicative of future results.​

View the following forex correlations to the S&P 500, S&P Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields, and Spot Gold prices.

Past performance is not necessarily indicative of future results.

For a guide on reading the above chart, visit DailyFX.com​

 

[Jason Rogers]

GBP/USD Setup Targets Key Support - Scalp Bias Constructive Above 1.6469

Past performance is not necessarily indicative of future results.

 

[Jason Rogers]

Kiwi Flies Higher

A major reversal higher in the New Zealand Dollar has been met with aggressive selling by the crowd. Notice how the brown negative SSI bars below have recently lengthened confirming that retail traders have increased their short positions.

Past performance is not necessarily indicative of future results.​

Our contrarian view of crowd sentiment favors further highs. The sharp build in crowd selling leaves our focus to the topside, and a break of the April peak at 0.8675 seems likely.

 

[DuCaan]

Aussie is also at a major resistance level. The 61.8% Fib.
See the chart.

 

[Jason Rogers]

Aussie is also at a major resistance level. The 61.8% Fib.
See the chart.

Nice chart

SSI for AUD/USD recently flipped from net long to net short which could be a sign the Aussie might continue higher.

Past performance is not necessarily indicative of future results.

 

[Jason Rogers]

Dollar Steady but Outlook Bullish

 

[Jason Rogers]

AUD/USD Setup Pending Weekly Range Break

Daily Chart

Past performance is not necessarily indicative of future results.

• Near-term bias shifts lower with break below 9208/18
• Subsequent support objectives 9140/47, 9080 & 9046
• Breach above 9338 targets resistance at 9394 & 9522

 

[Jason Rogers]

Gold Prices See no Relief in Sight as Further Lows likely

Retail traders turned net-long Gold as it turned down from $1390 and have only increased their buying as the price has declined. Our Speculative Sentiment Index (SSI) shows that long interest (indicated by the green bars in the chart below) is now at its highest since December.

Past performance is not necessarily indicative of future results.​

Since SSI is a contrarian indicator, the fact that the majority of retail traders are long Gold suggests that prices could drop further.

 

[Jason Rogers]

AUD/USD Chart Setup

Below is a tweet shared this morning by the DailyFX Research team:

$AUDUSD falls to a daily low at 0.9254 and may next find support by the 8/12/13 high at 0.9221

Past performance is not necessarily indicative of future results.​

And is that an inverse head and shoulders pattern I see?

For all their latest trade ideas, you can follow the DailyFX Research team on Twitter @DailyFXTeam

 

[Jason Rogers]

Possible trend shift in GBP/JPY – going short

The Momentum2 strategy is based on our proprietary Speculative Sentiment Index (SSI) a contrarian indicator that looks at the ratio of long to short positions in a currency pair among retail traders.

Instead of simply looking at whether SSI is net short or net long for a given pair, it looks for relative changes in net positioning.

Past performance is not necessarily indicative of future results.​

The strategy is currently giving a signal to short GBP/JPY because SSI has hit its most extreme positive level for the past 145 trading hours at -1.263, which suggests that the pair could be trending downwards.

Momentum2 and other DailyFX PLUS Trading Signals can be automated on your FXCM account via the Mirror Trading platform. You can use your Trading Station login and password to access Mirror Trader.

 

[Jason Rogers]

Chinese GDP has potential to spark risk

FXCM now offers trading in the offshore Chinese Yuan (USD/CNH)

 

[Jason Rogers]

Chinese GDP Beats Expectations But Indicates Slowdown

The Chinese economy grew at 7.4% over the first quarter of this year. While slightly stronger than the median forecast of 7.3%, it still marks a slowdown from 7.7% the previous quarter. The People's Bank of China ( PBOC) sets the midpoint around which the trading band of the Yuan may trade.

Past performance is not necessarily indicative of future results.​

For the third day in a row they set a weaker midpoint at 6.1589, down 0.03 per cent from the previous day's 6.1571. It is the lowest level since September, 2013. As a result the Yuan has been trading between 6.2215 and 6.2262 today.

Past performance is not necessarily indicative of future results.​

The 6.3000 is a possible target on further Yuan weakness. A stop can be set below the April 9 low of 6.1851. FXCM now offers trading in the offshore Chinese Yuan[/URL] (USD/CNH)

 

[Jason Rogers]

Ruble Climbs on Ukraine Accord

The Russian Ruble led gains by emerging-market currencies as an agreement to start de-escalating the conflict in Ukraine fueled appetite for "risk-on" trades.

Past performance is not necessarily indicative of future results.​

Over the past two days, the Russian Ruble has gained over 3% meaning the USD/RUB currency pair has fallen from a high of 36.30 to 35.20 where trades currently and could once again target the low of 34.75 set at the start of the month.