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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • BoJ Minutes: Members say YCC framework has been working well. A few members noted that active ETF buying should continue for time being -BBG
  • In her confirmation as Secretary of Treasury, Janet Yellen becomes the first person in American history to hold the triumvirate of Sec'y of Treasury, Fed Chair, and Chair of the Council of Economic Advisors.
  • Stocks may have brushed aside news the US fiscal package may not arrive before mid-March But, you know what didn't? Treasuries Average of 10Y and 30Y rates at lowest since late Dec Stopped right on the 20-day SMA Overall, coming off March 2020 peaks, but AUG uptrend holds https://t.co/wm0blgxT7D
  • The calls for stimulus will be strong in the United States between Secretary Yellen, Chair Powell and President Biden. Now, is that a benefit to the Dollar for relative risk or a detriment in inflation terms? https://t.co/gMyjKoBekO
  • Heads Up:🇨🇭 World Economic Forum Annual Meeting due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-26
  • Heads Up:🇯🇵 BoJ Monetary Policy Meeting Minutes due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-25
  • The Bitcoin/Ethereum ratio’s break to its lowest levels since August 2018 suggests that ETH may continue to outperform BTC in the coming weeks. Key levels to watch for Bitcoin and Ethereum. Get your $btc market update from @DanielGMoss here:https://t.co/mo3rw7bP4v https://t.co/UUbjzqhT1p
  • US Senate confirms former Fed Chair Janet Yellen as Treasury Secretary -AFP
  • 🇰🇷 GDP Growth Rate YoY Adv (Q4) Actual: -1.4% Expected: -1.7% Previous: -1.1% https://www.dailyfx.com/economic-calendar#2021-01-25
  • Majority of US Senate votes to confirm Janet Yellen as Treasury Secretary, voting will continue - BBG
EUR/USD Closes Week With an Inside Bar

EUR/USD Closes Week With an Inside Bar

Walker England, Forex Trading Instructor

Market Condition: EUR/USD Pending Inside Bar Breakout

Target 1: 1X Reference Bar Extension

Target 2: 2x Reference Bar Extension

Invalidation: False Breakout, Continued Consolidation

EUR/USD Daily Chart

EUR/USD Closes Week With an Inside Bar

(Created using Marketscope 2.0 Charts)

What is next for the US Dollar? Click HERE for our analysts Free forecast!

The EUR/USD has continued to consolidate through this mornings NFP event. If prices fail to breakout to a new significant high or low, the pair will close the week with an inside bar. This candline pattern can be seen above, begnining with yesterdays daily candle working as a reference. Yesterday’s high at 1.1492 is currently acting as resistance, and the low at 1.1384 is working as a value of support. In the event that prices breakout, either above resistance or below support, traders may then plan to enter into new positions with the markets chosen direction. Initial breakout price targets may be found using a 1X extension of the previously mentiond 108 pip reference bar. This places bullish breakout targets near 1.1600 , along with initial bearish targets at 1.1276.

If price action remains inside of the designated values of support and resistance, it suggests that there may be continued consolidation in the EUR/USD. In this scenerio, traders may opt to trade the continued consolidation or maintain any entry orders pending a future breakout.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES