News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Long wick candles are recurrent within the forex market. This makes understanding the meaning behind these candles invaluable to any trader to comprehend the market dynamics during a specific period. Learn about the importance of extended wicks here:
  • Safe haven stocks also allow traders to diversify their portfolio and reduce risk. Learn if safe-haven stocks are made for you here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • but the next major point in my view to monitor will be 52.76 - at least in the short term.
  • #Brent having broken above the pre-OPEC drop off at 45.51 is a huge deal considering it failed to crack resistance there in August (leading to the invalidation of "uptrend 2") and the psychological significance of that level
  • The New Zealand Dollar looks poised to extend its push higher against its haven-associated counterparts on robust economic data and a less dovish stance from the RBNZ. Get your $NZD market update from @DanielGMoss here:
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here:
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:
  • The global stock market can be categorized into specific groups or ‘stock market sectors’. Organizing the vast number of stocks in this way helps traders to view assets in a more manageable way. Get your stock market sectors basics here:
US Dollar Price Action Setups: EUR/USD, GBP/USD

US Dollar Price Action Setups: EUR/USD, GBP/USD

2020-11-16 19:42:00
James Stanley, Strategist

US Dollar, EUR/USD, GBP/USD Talking Points:

  • The US Dollar is holding support near a key spot on the chart.
  • This zone of confluent support turned around a stark sell-off in early-September.
  • EUR/USD has built into a fairly consistent range, and GBP/USD may be threatening a topside breakout.
  • The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.

The US Dollar continues to hold near an area of long-term support and this was the same zone that had come into play in early-September to turn around the USD sell-off that had started in March.

This area offers a few different mechanisms of support to create this confluent zone, with a trendline projection plotted from the 2011-2014 lows coming back into view again this morning. Also of interest from the monthly chart: At this point there’s a not-yet-complete evening star formation brewing, accented by September’s strength running into resistance in October, which led to the build of a hammer formation. So far through the first half of November we’ve seen more than half of the bullish move in September taken-out; and if USD does close the month with a confirmed evening star – that can keep the door open for a deeper bearish move into the end of 2020 and at some point in 2021.

Should this confluent support give way – the next big item looks to be around the 91.00 handle, after which the psychological level of 90 comes into view followed by 88.25, which is the 50% marker of the 2011-2017 major move as well as the current six year low.

To learn more about hammers or evening star formations, join us in DailyFX Education

US Dollar Monthly Price Chart

US Dollar Monthly Price Chart

Chart prepared by James Stanley; USD, DXY on Tradingview

EUR/USD Remains in Range

Despite all of the fireworks in the headlines over the past few months, EUR/USD has built into a fairly consistent range between 1.1600 and 1.1900. The big question is whether the ECB is going to unleash a bazooka of stimulus at their December meeting; and while many market participants are expecting an announcement of some sort, questions abound about how large any program may be.

The big item on the docket for this week out of Europe is the inflation print to be released on Wednesday morning.

EUR Forecast
EUR Forecast
Recommended by James Stanley
Download our Q4 Euro Forecast
Get My Guide

EUR/USD Eight-Hour Price Chart

EURUSD Eight Hour Price Chart

Chart prepared by James Stanley; EUR/USD on Tradingview

Cable (GBP/USD) Catches Resistance, but Bulls Persist

GBP/USD has similar seen strength through much of November to go along with a really weak US Dollar. The pair ran into a big zone of resistance last week from 1.3250-1.3275. That resistance check led-in to a quick pullback, but so far this week buyers have persisted to keep the short-term trend running higher.

This gives the allusion of a possible re-test of that resistance zone, and given the rising trendline sitting underneath price action, there may be scope for bullish breakout potential. The UK releases inflation numbers on Wednesday morning, a few hours ahead of the European release, and this looks to be the main item of excitement for GBP/USD on this week’s economic calendar.

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -10% -13% -12%
Weekly 13% -6% 0%
Current retail sentiment in GBP/USD
Get My Guide

GBP/USD Four-Hour Price Chart

GBPUSD Four Hour Price Chart

Chart prepared by James Stanley; GBP/USD on Tradingview

--- Written by James Stanley, Strategist for

Contact and follow James on Twitter: @JStanleyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.