David Song Blog | Talkmarkets | Page 1
Currency Strategist at IG Group
Contributor's Links: DailyFX

David Son has 10 years of trading experience in the FX market and has worked with DailyFX since attending college in 2007, starting with an internship. Has spoken at numerous trader expos and conferences over the years as well.

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US Dollar Outlook Mired By Fall In Longer-Dated US Treasury Yields
The US Dollar Index has been stuck under the 200-Day SMA (92.21) as the 10-Year Treasury yield slips to a fresh monthly low (1.53%). As well, recent market dynamics may keep the Greenback under pressure as the economic docket remains fairly light.
Gold Price Clears March High As Dovish Fed Rhetoric Drags On US Yields
The price of gold appears to have reversed course after carving a double-bottom in March, with the precious metal trading above the 50-Day SMA for the first time since February.
EUR/USD Approaches Channel Resistance Even As ECB Boosts Pace Of PEPP
EUR/USD appears to have reversed course ahead of the November low as it trades above the 50-Day SMA for the first time since February.
NZD/USD Climbs Back Above H&S Neckline To Approach 50-Day SMA
NZD/USD approaches the 50-Day SMA as the Reserve Bank of New Zealand (RBNZ) retains the current course for monetary policy.
USD/JPY Snaps April Opening Range As Bearish Price Series Takes Shape
The bearish price sequence may push USD/JPY towards the 50-Day SMA (107.79) amid the recent weakness in longer-dated US Treasury yields.
AUD/USD April Opening Range Intact Ahead Of Australia Employment Data
The near-term outlook for AUD/USD is clouded with mixed signals as the exchange rate appears to be stuck in a narrow range following the string of failed attempts to close below the neckline.
USD/CAD Rate To Eye March Low On Break Of April Opening Range
USD/CAD appears to be on track to test the monthly low as it extends the series of lower highs and lows from the previous week.
Short AUD/USD, AUD/JPY: Q2 Top Trading Opportunities
AUD/USD extended the V-shape recovery from 2020 to briefly trade above the 0.8000 handle in February, but a head-and-shoulders formation appears to be taking shape into the first quarter’s end.
USD/JPY Susceptible To Larger Pullback As RSI Sell Signal Emerges
USD/JPY extends the series of lower highs and lows from earlier this week to largely track the pullback in longer-dated US Treasury yields.
NZD/USD Tests Former Support Ahead Of Federal Reserve Minutes
NZD/USD attempts to retrace the sharp decline from the previous month after defending the February low, with the RSI highlighting a similar dynamic.
EUR/USD Recovery Emerges With RSI On Track To Threaten Downward Trend
EUR/USD seems to have reversed course ahead of the November low as it initiates a series of higher highs and lows following the limited reaction to the US Non-Farm Payrolls (NFP) report.
AUD/USD Trades Within Head-and-Shoulders Formation Ahead Of RBA
AUD/USD carves a series of higher highs and lows ahead of the RBA meeting as the board is widely expected to keep the official cash rate (OCR) at the record low of 0.10%.
Oil Price Susceptible To Rise In US Output Following OPEC JMMC Meeting
The price of oil attempts to push back above the 50-Day SMA after trading below the moving average for the first time since November.
AUD Q2 2021 Fundamental Forecast
The Australian Dollar appreciated against its US counterpart during the first quarter of 2021, with AUD/USD trading above the 0.8000 handle. But now the recovery in longer-dated US Treasury yields appears to be dragging on the AUD/USD exchange rate.
Gold Price Clears Trendline Resistance After Defending March Low
The price of gold appears to be breaking out of the downward trend from earlier this year after defending the March low.
USD/JPY Rally Eyes March High As RSI Sits In Overbought Territory
USD/JPY trades to a fresh yearly high as a bull flag formation unfolds in March, with a ‘golden cross’ formation taking shake during the same period.
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