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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/046ydKsfLf
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.05%, while traders in Germany 30 are at opposite extremes with 69.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/m0dBPGORSa
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Gold: 0.29% Oil - US Crude: 0.20% Silver: -1.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/LMrQaQ7B2w
  • USD/JPY IG Client Sentiment: Our data shows traders are now net-short USD/JPY for the first time since Feb 09, 2021 when USD/JPY traded near 104.58. A contrarian view of crowd sentiment points to USD/JPY strength. https://www.dailyfx.com/sentiment https://t.co/DPKYqyxoxs
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.31% 🇳🇿NZD: -0.00% 🇨🇦CAD: -0.02% 🇬🇧GBP: -0.15% 🇪🇺EUR: -0.18% 🇨🇭CHF: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3l4wXOECwe
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.71% Germany 30: 0.36% France 40: 0.27% Wall Street: -0.20% US 500: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/dBKsn9756w
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/D6pqxwS0eY
  • Coming up at half past the hour... my free webinar on market sentiment. Do join me if you can. You can sign up here: https://www.dailyfx.com/webinars #sentiment
  • 💶 Inflation Rate MoM Flash (FEB) Actual: 0.2% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-03-02
  • 💶 Inflation Rate YoY Flash (FEB) Actual: 0.9% Expected: 0.9% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-03-02
EUR/CAD Punches Lowest Level in 19 Months

EUR/CAD Punches Lowest Level in 19 Months

Jeremy Wagner, CEWA-M, Head of Education

EUR/CAD touched the lowest exchange rate it has seen in over 19 months printing a low of 1.3784. The low from this morning came at an equal wave measurement from the January 23 high. That suggests today’s low is near an important level.

Though prices are rallying now, if prices do end up breaking below today’s low, we can use the price break to support a bearish bias.

We will be keeping an eye on Relative Strength Index as well. Currently it is depicting divergence that suggests we may see a bullish move. This is one reason why a breakout trade is selected. One benefit to breakouts is that you let the market dictate to you when it is ready to trade to new lows, in the case. If no new lows are created, then we are saved a losing trading on our bearish bias.

When trading a breakout of this nature, risk is placed just above the recent swing high. We will manually trail the stop a price drop accelerates.

If you wish to join Jeremy in his US Opening Bell webinars to discuss this market, register and join here.

EUR/CAD Punches Lowest Level in 19 Months

Created using TradingView

---Written by Jeremy Wagner, Head Trading Instructor, DailyFX EDU

Follow me on Twitter at @JWagnerFXTrader .

See Jeremy’s recent articles at his Bio Page.

To receive additional articles from Jeremy via email, join Jeremy’s distribution list.

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

DISCLOSURES