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
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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.32% 🇨🇦CAD: 0.05% 🇦🇺AUD: -0.00% 🇯🇵JPY: -0.28% 🇪🇺EUR: -0.34% 🇬🇧GBP: -0.50% View the performance of all markets via
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.02% Gold: -1.05% Silver: -1.40% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.54%, while traders in EUR/USD are at opposite extremes with 72.12%. See the summary chart below and full details and charts on DailyFX:
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.39% France 40: 0.32% FTSE 100: 0.26% US 500: 0.01% Wall Street: 0.01% View the performance of all markets via
  • Gilead Sciences receives FDA approval for Remdesivir - BBG
  • $GILD | Gilead Sciences receives FDA approval for coronavirus treatment remdiesivir
  • Can bulls continue to push? While the bullish theme in Gold remains on hold, buyers haven’t been so bashful around Bitcoin. Get your $btc technical analysis from @JStanleyFX here:
  • Precious Metals Update: #Gold 1904.24 (-1.04%), #Aluminum 1843.50 (+0.49%), and #Copper 6991.50 (+1.34%) [delayed]
  • US Dollar volatility remains heightened in the midst of back-and-forth stimulus negotiations. Get your $USD market update from @RichDvorakFX here:
Tehcnical Analysis: Short EURUSD

Tehcnical Analysis: Short EURUSD

2017-05-09 09:02:00
Nick Cawley, Strategist

Nick Cawley, Analyst, May 9, 2017

My Picks: Short EURUSD.

Expertise: Fundamental/Technical Analysis.

Average Time Frame of Trades: One week to several weeks.

New to the markets? See our Trading Guides.

The recent French presidential elections have left a ‘gap’ in the EURUSD chart that needs to be filled if the single-currency is to push higher against the greenback. The daily chart shows a gap between 1.08207 and 1.07774, made on the day that Emmanuel Macron went through to the second round of the presidential elections – which he subsequently won.

Chart: EURUSD Daily Timeframe

Tehcnical Analysis: Short EURUSD

And looking at the 20-, 50- 100-day moving averages, the technical set-up for EUR is still pointing to the downside. With the pair still trading below the 20-day ma, currently at 1.09286 on the one–hour chart, the upside currently remains capped.

Staying with the one-hour chart, a doji appears with a high of 1.10241, a potential reversal signal for the single-currency.

Chart: EURUSD One-Hour Timeframe (May 3 – May 9, 2017)

Tehcnical Analysis: Short EURUSD

Charts by IG

Check out our Free Online Foreign Exchange Trading University here

Entry – Set up short position at 1.09286.

Stop – May 8 high of 1.09485.

Target 1 Top of gap at 1.08207

Target 2 – Bottom of gap at 1.07774.

---Written by Nick Cawley, Market Analyst

You can follow Nick on Twitter @nickcawley1

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