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. See our updated Privacy Policy here.



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
Please try again
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
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.67% 🇨🇦CAD: 0.47% 🇬🇧GBP: 0.38% 🇪🇺EUR: 0.28% 🇨🇭CHF: 0.18% 🇯🇵JPY: 0.08% View the performance of all markets via
  • Heads Up:🇪🇸 Business Confidence (JUL) due at 10:30 GMT (15min) Previous: -1.1
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.81% France 40: 0.72% Wall Street: 0.43% Germany 30: 0.33% US 500: 0.22% View the performance of all markets via
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • US Dollar Trend Still Points Higher After FOMC, Q2 GDP Eyed - #USD #dollarindex #Fed #FOMC #GDP
  • 💶 Industrial Sentiment (JUL) Actual: 14.6 Expected: 13 Previous: 12.8
  • 💶 Economic Sentiment (JUL) Actual: 119 Expected: 118.5 Previous: 117.9
  • 💶 Consumer Confidence Final (JUL) Actual: -4.4 Expected: -4.4 Previous: -3.3
  • Heads Up:💶 Industrial Sentiment (JUL) due at 09:00 GMT (15min) Expected: 13 Previous: 12.7
  • Heads Up:💶 Economic Sentiment (JUL) due at 09:00 GMT (15min) Expected: 118.5 Previous: 117.9
Other Peoples Money

Other Peoples Money

Walker England, Trading Coach,

The EUR/GBP is historically known for its small trading ranges and its tendency to be a range bound currency pair. Recently this has not been the case with the Euro gaining ground on many key currencies including the British Pound. The ECB (European Central Bank) recently raised its key interest rate to 1.25% on April 7th adding to the projected strength of its currency. This rate increase differs significantly from the BOE (Bank of England) who have held rates steady at a paltry 0.50 %. As money follows yield this may bode well for more Euro strength if rate hikes continue.

Money follows yield, but there are many other economic conditions to consider. There has been new looming speculation of the European debt crisis continuing. Greece in particular is providing a roadblock for the EU’s economic recovery. Currently, Greece’s debt is an estimated at 140% of GDP and is considered unsustainable by many. As fear of default resumes, traders may pull their money out of Euros and look for a safer investment environment.

EUR.GBP04.20_body_Picture_1.png, Other Peoples Money

Price Action

When we have a conflicting fundamental outlook, charting can sometimes bring us some clues regarding price direction. Looking at the daily chart above, we can see the rally of the EUR/GBP from the low of .8062 established on June 2010. Prices have created higher lows however a new higher high has yet to be established.

Taking price in to a 4hr chart, we can see resistance held at the high just above our .8900 handle. This is confirmed by a lower low being formed and a new move beginning towards short term support. Sellers can look to a break below support for a chance at a run at longer term support found on our daily. New highs would indicate an uptrend is in play and buy trades can be initiated at this point.

EUR.GBP04.20_body_Picture_2.png, Other Peoples Money

Trading Opportunity

My preference is to place entry orders on the EUR/GBP waiting for a breakout. If resistance holds we can look to place an entry order under the previous low near .8760. Support will become resistance and stops can be placed over new resistance. A 1:2 risk reward would have us looking for a move to .8660 or better.

Alternative scenarios include price breaking out to new highs. Buy orders can be placed over our high above .8900 in anticipation of an upward trend developing.

Walker England contributes to the Instructor Trading Tips articles. To receive more timely notifications on his reports, email to be added to the distribution list.

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