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.

Free Trading Guides
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • What are the Market cycles? How are #currencies impacted in these cycles? How can these cycles impact #forextrading patterns? Find out here: https://t.co/ckr2fUOWqW https://t.co/g7iT8bpi7f
  • What are a few of the common trading mistakes made by traders? Find out from @WVenketas here: https://t.co/d3OFc4yGao #tradingstyle https://t.co/wQ1MAkOb0n
  • The UK population voted the Conservative government back in with a strong majority, giving PM Johnson the backing to push Brexit through. And Sterling (GBP) likes it. Get you $GBPUSD market update from @nickcawley1 here: https://t.co/tjCHWDxoWm https://t.co/Z7Vaadxy5r
  • #Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Get your $gld markets news from @IlyaSpivak here:https://t.co/4lHhHsby56 https://t.co/zF4EyLIRWM
  • Lessons from Bretton Woods are forgotten, the US-China #tradewar represents a true existential threat to the post-World War II international trade order, and in turn, the globalized economy that has grown out of the ashes of history. More from @CVecchioFX :https://t.co/paaBxX6Xt0 https://t.co/tcjkQnaBWl
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr #FOMOintrading https://t.co/bDXG2dV3wG
  • The US Dollar technical outlook against the Euro, British Pound, Australian Dollar and New Zealand Dollar are discussed. Large wicks left signs of indecision, will reversals follow? $EURUSD $GBPUSD $AUDUSD $NZDUSD - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/12/15/US-Dollar-Technical-Outlook-EURUSD-GBPUSD-AUDUSD-NZDUSD.html?CHID=9&QPID=917702 https://t.co/dpuIppxo3F
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/y3cckNW22W https://t.co/vUQyVl6b0e
  • Growth linked currencies have gained as investors hope for progress on the trade front as well as stimulus from the Fed. The global economy however remains depressed and seems likely to remain so. Get your market update from @DavidCottleFX here: https://t.co/jt1HH9AHLM https://t.co/Yz65AMJYlm
  • RT @YuanTalks: #China temporarily suspend additional tariffs of either 10% or 5% on some #US goods scheduled to take effect on Dec 15, said…
Is the Greek Lifeline Enough to Forge a Euro Recovery

Is the Greek Lifeline Enough to Forge a Euro Recovery

2010-03-16 15:29:00
John Kicklighter, Chief Currency Strategist

At the close of the European Union's two day meeting on Greece and contengency plans for potential crises in the region, the strategy seemed exactly the same as it was going into the gathering. Officials would defer on establishing clear steps to aid Greece should it be necessary. What would come from the discussions was the possible approach to pooling funds to extend as direct loans should the economy need it. However, such an effort will require member economies to contribute taxes revenues to the pool. Considering nations like Germany among others have already rejected the notion of extending direct loans, this seems a facade solution. Most policymakers seem to simply hope conditions will improve and market confidence remains stable. If it does not, financing costs for the members that are already struggling between economic slump and painful deficit cutting will find it far more difficult to operate. And, given the long-term forecast for securing economic recovery and financial stability, this will be a looming concern for some time to come.

From a fundamental perspective, the euro has found another stepping stone. Yet, this is not altogether a permanent solution to the problem. Should underlying investor sentiment start to falter, the euro will find itself at the bottom of the ladder. This will be a condition that lasts for some time - or at least until all the EU nations have made significant headway towards reducing their deficits. In the meantime, uncertainty reigns. Positioning with fundamentals in mind, I have two existing positions. My EURGBP short is a carry over from last week. The range high at 0.9130 offers a close top to my entry at 0.9120. I am waiting at this point for a break of temporary support at 0.9045 to establish real progress. The other existing position I have is a short EURJPY from approximately 124.80 that is tapped into risk trends. A stop set just moderate distance above the 125 level will keep my risk minimized - especially on a reduced size position. Finally, I am also watching for a potential breaking on EURUSD. The past three days has seen a range high develop around 1.3790/70. If this level gives, we could have a more significant retracement of the previous three months' bear trend. After confirming the break, I will determine an appropriate stop and target.

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


News & Analysis at your fingertips.