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British Pound Technical Analysis: GBP/USD, GBP/JPY at Major Support

BRITISH POUND, GBP, GBP/USD, GBP/JPY TALKING POINTS: The British Pound has been abysmally weak, allowing for both GBP/USD and GBP/JPY to encroach upon major support zones. While such support would often be accommodative of reversal approaches, the fact that GBP has shown so few signs of life recently would keep the door open for deeper breakdown prospects, particularly in GBP/JPY. The analysis contained in article relies on price action and chart formations. To learn more abo
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British Pound Wilts on Omicron Restrictions and a Less Hawkish BOE. Where To GBP/USD?

BRITISH POUND, GBP/USD, BOE, FED, USD/CAD, CSI 300, PBOC - TALKING POINTS The British Pound is making new lows for the year as Covid bites APAC equities were mixed with Chinese indices up on lower volatility A backfooted BOE is likely to be cautious. How low will GBPUSD go?   The British Pound weakened as new restrictions to combat the spread the Omicron variant of Covid-19 were announced by the Prime Minister Boris Johnson. Sterling has been weakenin
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Currency Carry Trade: What is it and how does it work?

- Reviewed by James Stanley, Nov. 24, 2021 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 trade
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EUR/USD Ongoing Weakness, EUR/GBP Aided by UK Political Shambles, EUR/CAD Eyes BoC

EUR/USD, EUR/GBP, EUR/CAD Prices, Charts, and Analysis EUR/USD - short-term weakness persists. EUR/GBP – Sterling rattled by politics. EUR/CAD – Bank of Canada on tap. Keep up to date with all market-moving data releases and events by using the DailyFX Calendar EUR/USD The short-term weakness in EUR/USD continues with the pair looking set to print a seventh lower high in on a row on the daily chart – excluding the Sunday candle – a negative set-up. Today’s
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British Pound (GBP) Price Outlook: Downside Pressure on GBP/USD Persists

GBP/USD PRICE, NEWS AND ANALYSIS: GBP/USD continues to hover around the support line of a downward-sloping channel connecting the lower lows in place since mid-April. So far it has notably failed to benefit from receding fears about the Omicron variant of the coronavirus and it looks increasingly likely that the previous support line is now acting as resistance.   GBP/USD DOWNSIDE BECKONS GBP/USD is continuing to struggle to climb above the support line of a d
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What is the Best Time Frame to Trade Forex?

- Reviewed by James Stanley, Nov. 24, 2021 “Is there a best time frame to trade forex?” is a common question a lot of traders ask, especially those new to the forex market. The truth is, there is no single answer. It all depends on your preferred trading strategy and style. Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Trend charts refer to longer-term t
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Will Alibaba be the next DiDi?

The short journey of the Chinese ride-hailing giant is the smallest of the overseas listed Chinese technology giants, with total losses amounting to more than $1 trillion since February 2021. Source: Bloomberg   Shares DiDi China Alibaba Group IPO Stock
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Gold Price Currently Lacks Any Meaningful Conviction, Volatility Lies Elsewhere

GOLD PRICE (XAU/USD), CHART, AND ANALYSIS Gold traders are watching from the sidelines as other risk assets dominate trade. ‘Encouraging’ news on Omicron lures risk-on buyers. Retail traders have increased their net-short positions.   The latest data on Omicron suggest is not as dangerous as the delta covid-19 variant, according to White House chief medical advise Dr. Anthony Fauci. According to Dr. Fauci, the preliminary data is ‘encouraging’ although more
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British Pound (GBP) Price Outlook: GBP/USD Stable But Still Testing Support

GBP/USD PRICE, NEWS AND ANALYSIS: GBP is currently steady against both the US Dollar and the Euro but GBP/USD remains close to trendline support and would likely drop much further if that beaks. A UK interest rate increase by the Bank of England next week is now around 50/50 as concerns about Omicron make a rate rise less likely. GBP/USD STABLE BUT GAINS AT RISK GBP/USD is looking steadier so far this week but, as the chart below shows, it remains close to the support
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The Importance of Liquidity in Forex Trading

- Reviewed by James Stanley, Nov. 24, 2021 As a trader gets started in forex trading, one of the first advantages they’re likely to come across is how much liquidity the forex market offers over other markets. The latest figures are roughly $5.1 trillion in daily traded volume as per the Bank of International Settlements triennial report of 2016. Forex liquidity allows for ease of trade, making the market popular among traders. However, certain variances in the FX market need to be tak
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US Dollar Technical Outlook: DXY Tightropes Support, Looks for Catalyst

US DOLLAR TECHNICAL OUTLOOK DXY walking the line on slope support from June Still looking for a reason to move off the line US DOLLAR TECHNICAL OUTLOOK: DXY TIGHTROPES SUPPORT, LOOKS FOR CATALYST The US Dollar Index (DXY) is sitting on an important slope that dates to June, still looking for a reason to move higher off the line or break down through it. What the catalyst may be is anyone’s guess, but we should soon see something develop as the dol
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How to Manage Fear and Greed in Trading

- Reviewed by James Stanley, Nov. 24, 2021 MANAGING FEAR AND GREED WHILE TRADING: MAIN TALKING POINTS Fear and greed are two drivers that influence our everyday lives These influences carry over to trading and can be detrimental Traders can remove these drivers by looking at the big picture and planning ahead Fear and greed are often identified as the main drivers of financial markets. This is clearly an oversimplification, however fear and greed do play an importan
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Dividend Adjustments 6th December 2021 - 13th December 2021

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 6th December 2021. These are projected dividends and likely to change. IG cannot be held responsible for any changes made. Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted o
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Crude Oil Overview: OPEC+ Agrees on Output Increase, Oil’s Sharp sell-off Analyzed

BRENT CRUDE OIL AFTER OPEC+ MEETING: Brent crude oil’s sharp sell-off and recovery after OPEC+ stick with January plan but reserve the right to alter the decision. Oil recovers from sharp sell-off as key long-term trendline remains intact. IG Client Sentiment ‘mixed’ once more despite even larger net long positioning than previously. OPEC+ LEAVES JANUARY OUTPUT PLANS UNCHANGED BUT REMAINS FLEXIBLE TO OMICRON-RELATED SHOCKS Yesterday the Organization of
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European stocks climb, looking for a positive end to a tumultuous week

LONDON — European markets moved higher on Friday, looking for a positive end to a tumultuous week following the discovery of the new omicron Covid-19 variant. The pan-European Stoxx 600 added 0.5% in early trade, with travel and leisure stocks bouncing 2% on easing omicron fears as almost all sectors and major bourses entered positive territory. European stocks are looking to rebound from Thursday’s pullback, which saw the Stoxx 600 fall 1.1% and tech sector on the continent drop
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Dow Attempts Recovery, Nasdaq 100 Still in Reversal Pattern with NFPs and Seasonality at Play

DOW, NASDAQ 100, S&P 500, DOLLAR AND NFPS TALKING POINTS: Following Wednesday’s broad risk tumble, the Dow, S&P 500 and Nasdaq put in for a stiff bounce this past session. Volatility is the dangerous undercurrent that persists, so a steady course through the final day of trade this week could go far towards restoring ‘seasonal’ norms. Top event risk from a headlines perspective Friday is the November NFPs, but I place greater weight on the ISM services update as the y
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EUR/USD Contained Ahead of NFP but Remains Sensitive to ‘Hawkish/Dovish’ Narrative Swings

EUR/USD TALKING POINTS: EUR/USD calmer ahead of US NFP data and Euro sentiment data next week. The currency pair looks to test key resistance (prior support). IG Client Sentiment ‘mixed’ despite significant net long positioning. EUR/USD AHEAD OF NON-FARM PAYROLLS AND EURO SENTIMENT SURVEY DATA The Euro received a much needed bounce last Friday as global financial markets wrestled with news of a new coronavirus variant which we have now come to know as
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