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
Mixed
Low
High
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The Euro has slipped to an intraday low amidst the German Greens surging to a lead over Merkel's CDU in a new poll. $EUR $USD https://t.co/gfvNseRNvc
  • $USDCAD has strengthened today, rising to a one week high near the 1.2600 level. The Canadian Dollar has suffered amidst a drop in oil prices and extended travel restrictions. $USD $CAD https://t.co/O2z7grrFYi
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RVkYfiOzPq
  • In line with the general risk-off sentiment, oil prices have come under notable selling pressure with both Brent and WTI crude futures falling 2-2.5%. Get your #crudeoil market update from @JMcQueenFX here:https://t.co/K0zJL8BFj1 https://t.co/wMn3kNFhwC
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: 0.49% Silver: 0.42% Oil - US Crude: -1.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/CqYIho6z47
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.08% 🇯🇵JPY: 0.07% 🇪🇺EUR: 0.04% 🇦🇺AUD: -0.17% 🇬🇧GBP: -0.23% 🇨🇦CAD: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GC3sr4bk5B
  • - Recovery in the US is improving - The increase in Covid cases is concerning, but vaccines give optimism for a return to more normal conditions later this year
  • - Fed bond buying is at a pace "unrelated to magnitude of fiscal deficits" - Low Treasury yields show there is strong global demand for stable and liquid investments
  • Fed Chair Powell: - Too low inflation harms American families and businesses - We do not anticipate high inflation, but have the tools to address pressures if they arise #Fed $USD
  • looking forward to this, webinar starts in an hour. Topics on the radar: 1) USD Q2 Weakness 2) Gold brewing bullish potential? 3) Stonks through initial earnings outlays https://www.dailyfx.com/webinars/643096611 https://t.co/6YNhrv8E31
Near-term Setups in USD/JPY, EUR/GBP & NZD/USD

Near-term Setups in USD/JPY, EUR/GBP & NZD/USD

Michael Boutros, Strategist

Here's an update on the setup's I’ll be tracking into the weekly open. Find a detailed, in-depth review of all these setups and more in this today’s Strategy Webinar.

USD/JPY 240min

USD/JPY 240min Chart

Price broke below channel support late-last week and after reversing of key resistance at 114.37/60. The focus range to start the week is 112.32-113 with a downside break (favored) targeting more significant confluence support at 111.57/78- this threshold is defined by the 100-day & 200-day moving averages and converges on the June opening range highs & near-term channel support. A breach above Friday’s range high would be needed to shift the focus back towards the monthly highs.

Join Michael on July 21st for a Live Webinar on the Foundations of Technical Analysis- Register for Free Here!

USD/JPY Sentiment
  • A summary of IG Client Sentimentshows traders are net-long USD/JPY - the ratio stands at -1.07 (48.2% of traders are long)- Weak bullish reading
  • Long positions are 7.8% higher than yesterday but 1.5% lower from last week
  • Short positions are 22.6% higher than yesterday and 5.3% lower from last week
  • Whilewe typically take a contrarian view to crowd sentiment, positioning is more net-short than yesterday but less net-short from last week and the combination of current sentiment and recent changes gives us a further mixed USDJPY trading bias. That said, I’ll be looking for a near-term recovery to fade while below structural resistance.

What do shifts in retail positioning hint about the broader USD/JPY trend? Learn how Sentiment can help your trading in this free guide!

EURGBP: The pair posted an outside weekly-reversal bar off confluence resistance last week, keeping the focus lower while below the January highs at 8852. A break below near-term slope support highlighted last week targets subsequent support objectives at 8700 & 8664. Keep in mind we have the UK Consumer Price Index (CPI) on tap overnight.

See our New 3Q projections in the DailyFX Trading Forecasts.

NZD/USD:We’ve been looking for Kiwi exhaustion for the past few weeks and I still think the pair remains at risk while below daily slope resistance discussed in today’s webinar. That said, IG Client Sentiment has continued to pullback from extreme short-side positioning and leaves the long-bias vulnerable heading into the start of the week while below resistance. An assertive break below the 2017 high-day close at 7301 would be needed to validate a near-term reversal in the pair.

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or

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

DISCLOSURES