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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
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
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.12% 🇨🇭CHF: 0.09% 🇪🇺EUR: 0.08% 🇨🇦CAD: -0.02% 🇯🇵JPY: -0.03% 🇳🇿NZD: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/mgBg1eesms
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.68%, while traders in EUR/USD are at opposite extremes with 73.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZyugXjE2ov
  • The British Pound is eyeing a push to fresh yearly highs against the US Dollar. However, various technical setups suggest GBP could lose ground to JPY, EUR and NZD in the near term. Get your $GBP market update from @DanielGMoss here:https://t.co/NSUnZnxAdi https://t.co/Ounuyh073c
  • The Dow Jones index appears to be ranging between 22,920 to 30,000 over the past few weeks. The overall trend remains bullish biased, but its upward momentum is fading as Bollinger Band width narrows. A decisive break above 30,000 resistance may open the door for further upside. https://t.co/pvWoVloiZV
  • Update on #Cryptocurrencies #BITCOIN -0.46% #BITCOINCASH -0.24% #ETHEREUM -0.78% #RIPPLE +0.83% #LITECOIN +0.77%
  • Wall Street Futures Update: Dow Jones (-0.110%) S&P 500 (-0.082%) Nasdaq 100 (+0.086%) [delayed] -BBG
  • 🇨🇳 Caixin Services PMI (NOV) Actual: 57.8 Previous: 56.8 https://www.dailyfx.com/economic-calendar#2020-12-03
  • BoJ's Suzuki: - Flexibility and sustainability in policy is vital - Supporting growth strategy in the long term is vital - Must support labor market - BBG $USDJPY
  • IGCS hints that gold prices may reverse higher as the S&P 500 aims for new highs. Things are looking a little bit more choppy for the growth-linked Australian Dollar. Get your $AUD market update from @ddubrovskyFX here:https://t.co/xiaQOr5D7D https://t.co/5ZRE3eOjj3
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh88nOv https://t.co/i8myMnEZlE
Near-term Setups in EUR/USD, Bitcoin & Ethereum

Near-term Setups in EUR/USD, Bitcoin & Ethereum

2017-09-18 17:45:00
Michael Boutros, Strategist
Share:

Here's an update on the setup's I’m tracking into the start of the week. Find a detailed, in-depth review of both these setups and more in today’s Strategy Webinar.

EUR/USD Daily Chart

EUR/USD Price Chart- Daily Timeframe

Last week I noted that the ‘battle lines’ were drawn for the Euro as the pair set a clear monthly opening range just below long-term slope resistance. Heading into FOMC the focus will be on a break of this between 1.1850 & the yearly high-day close at 2035. From a trading standpoint, I’ll favor selling strength within this range with a break below the median-line needed to suggest a more significant near-term top is in play. Ultimately I’d be looking for long-entries near- 1.1680 – 1.17.

New to Forex? Get started with our Free Trading Guide!

BTC/USD Daily Chart

BTC/USD Price Chart- Daily Timeframe

We warned of a deeper correction in Bitcoin prices last week with the subsequent drop probing just below the 3023/33 confluence support zone before rebounding sharply. The subsequent rally is now approaching the underside of the median-line as resistance. Look for a reaction here with a close above 4213 needed to validate resumption of the broader uptrend targeting the upper parallel ~4600. From a trading standpoint look for a pullback here but prices should stabilize above the reversal day close at 3700 if we’re heading higher. Things are about to get interesting here.

Join Michael this Friday for his bi-weekly Webinar on the Foundations of Technical Analysis- Register for Free Here!

BTC/USD IG Client Sentiment
  • A summary of IG Client Sentimentshows traders are net-long Bitcoin (BTCUSD) - the ratio stands at +1.8 (64.2% of traders are long)- bearish reading
  • Long positions are 1.8% lower than yesterday and 11.5% lower from last week
  • Short positions are 23.9% higher than yesterday and 20.6% higher from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin (USD) prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Bitcoin (USD) price trend may continue higher despite the fact traders remain net-long.

See how shifts in retail positioning are impacting trend.Learn how Sentiment can help your trading in this free guide!

ETHUSD:A similar scenario is playing out in Ethereum prices, which probed even deeper below support last week before recovering. The levels remain unchanged from last week’s update with key near-term support raised to 259.

Check out this week’s DailyFX Webinar Schedule

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

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

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

DISCLOSURES