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
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
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Fed Chair Powell: -Have not made decision on removing bank restrictions -Some housing tightness is passing phenomenon -Large increases in home prices unlikely to be sustained -Corporate defaults have been fewer than expected -We haven't seen as much scarring as we feared
  • Fed Chair Powell: -Emergency lending facilities were very helpful to economy -Haven't talked with US Treasury about emergency tools
  • Federal Reserve holds its policy interest rate and pace of asset purchases steady as expected. Get your $XAUUSD market update from @RichardSnowFX here:https://t.co/8CIIMYDUtr https://t.co/0U48GH20aM
  • Fed Chair Powell: -World has been struggling with disinflationary forces for a while -US inflation dynamics won't change much over near term -More concerned about recovery than pickup in inflation -Inflation resembling past decades seems unlikely
  • Fed Chair Powell: -Talk of tapering asset purchases is premature -Just too early to be talking about dates on tapering bond buying plans -Tapering would be gradual when we do it -Whole focus on exit is premature $SPX $NDX $DJI $USD $DXY $XAUUSD $TNX
  • Fed Chair Powell: -Pandemic, new virus strains still provide considerable downside risks -Will take quite a while to get to herd immunity -Vaccine rollout likely to be a struggle -Nothing more important to economy now than vaccinations
  • Fed Chair Powell: -Coming months' rise in inflation will be transient -We will be patient and not react when we see modest bumps in inflation -Very unlikely that we'll see troubling inflation -Not going to adopt a formula on inflation
  • Fed Chair Powell: -Financial vulnerabilities are 'moderate' right now overall -Asset prices have recently been driven by vaccines, fiscal steps -Link between interest rates and asset prices not so strong
  • Fed Chair Powell: -Fiscal response to economic downturn has been strong and sustained -We are a long way away from 'returning to normal' with about 9 million Americans still unemployed -The real unemployment rate is closer to 10% -Very appropriate to be highly accommodative
  • Fed Chair Powell: -Declines to comment when asked about recent $GME stock price activity, notes financial conditions are monitored very broadly -Carefully examining aspects of non-bank sector #Stocks #StockMarket #FOMC
EUR/USD Tests Resistance After CPI Data

EUR/USD Tests Resistance After CPI Data

Walker England, Forex Trading Instructor

Talking Points

  • The EUR/USD Stalls at Range Resistance
  • EUR German CPI Figures Released at .3%
  • SSI Remains Negative at -1.70

EUR/USD 2 Hour Chart

EUR/USD Tests Resistance After CPI Data

(Created using Marketscope 2.0 Charts)

What do DailyFX analysts expect from the EURO for 2016? Find out here!

The EUR/USD is testing resistance this morning, but has failed to breakout despite a series of high importance news events. This morning EUR German CPI (YoY) figures were released at .3%. This was better than the expected value of .1%. Even with this news, the EUR/USD is still trading under today’s R3 Camarilla pivot at 1.1323. It should be noted that the EUR/USD has broken out to new highs in its previous two trading sessions. If the pair attempts to move higher, traders may look for bullish breakouts above the R4 pivot at 1.1360. In this scenario, traders may use today’s 111 pip range to extrapolate initial targets near 1.1471.

In the event that the EUR/USD fails to break higher, it opens the pair up to retrace towards values of support. Today’s value of range support is found at the S3 pivot at a price of 1.1249. As well, bearish breakouts may begin below the S4 pivot point at 1.1212. A move to this value would be considered significant as it would be the first attempted bearish breakout in the last four trading days.

Find out the latest positioning totals with DailyFX’s sentiment page

SSI (Speculative Sentiment Index) currently reads at -1.70 for the EUR/USD. When taken as a contrarian signal, this negative number suggests that the EUR/USD may be preparing for a future advance. Going into this weeks close, traders should monitor SSI to see if it reaches -2.0 or lower. A move to a negative extreme may be used to add validation to any fresh bullish breakouts. Conversely, traders looking for a bearish reversal should look for a flip in SSI to a positive value. A move of this nature may suggest a move towards more bearish market conditions.

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

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

Do you know the biggest mistake traders make? More importantly, do you know how to overcome the biggest mistake? Read page 8 of the Traits of Successful Traders Guide to find out [free registration required].

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES