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
  • Germany will not be able to stick to debts limits in constitution for years - Handelsblatt
  • The FTSE 100 has extended its pullback from trendline resistance (stemming from the 2009 low) with the index shedding 0.6% for the week. Get your #FTSE market update from @JMcQueenFX here:https://t.co/ZH3mu1MlEx https://t.co/NHPRYQIVDB
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Oil - US Crude: -0.02% Silver: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ra1oz2gMJz
  • WTI Crude futures settle up 0.96%, at $52.77 - BBG
  • I'm not usually big with head and shoulders patterns but there are conflicting signals in $USD atm. 1st chart here is on h4 and it's a h&s with neckline ~ 90. 2nd chart is on h8, and its an inverse h&s with neckline ~ 91. Given calendar, a break this week can def happen. https://t.co/EuuD7kFDVP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.31%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lXqkGmTKFc
  • Today was the 'quiet' session of the week with only a few high profile indicators on tap. The high profile fundamental themes start up in earnest tomorrow (including the IMF's WEO). We will see how speculative charge for the likes of GME competes with global growth forecasts
  • US Dollar Head and Shoulders Pattern, Focus on USD/CAD, NZD/USD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/01/25/US-Dollar-USD-Head-and-Shoulders-Pattern-Focus-on-USDCAD-USD-CAD-NZDUSD-NZD-USD.html https://t.co/FzJjpcePv3
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.30% Germany 30: 0.29% France 40: 0.27% US 500: 0.17% Wall Street: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/iV9dAbK0YI
  • $AUDJPY fell to an intraday low around 79.77, hitting its lowest level since early last week. The pair has since rebounded to trade back above 80.00. $AUD $JPY https://t.co/hkWWiqvQGd
EUR/USD Prices Range in Absence of News

EUR/USD Prices Range in Absence of News

Walker England, Forex Trading Instructor

Talking Points

  • The EUR/USD Consolidates as US Dollar Pairs Search for Direction
  • Bullish Breakouts Begin Over R4 at 1.1406
  • SSI Reads at -1.68, Suggesting a Slight Bullish Bias

EUR/USD prices have continued to range this morning, as US Dollar pairs continue to seek direction. In absence of any major news events on this morning’s economic calendar, traders may look for prices to continue to range between values of support and resistance. Today’s pivot range for the EUR/USD measures 24 pips. Price action has already traversed this range once, and the EUR/USD is now bouncing from pivot support, which is found near 1.1368 at the S3 Camarilla pivot displayed below.

EUR/USD 30 Minute Chart with Camarilla Pivots

EUR/USD Prices Range in Absence of News

(Created using Marketscope 2.0 Charts)

What’s next for the Euro? Find out more with our Free Euro forecast!

Range resistance for the day, is found at the R3 pivot point at a price of 1.1392. If price remains below this value, it suggests that prices may continue ranging for the remainder of today’s session. Alternatively, if prices continue to advance, bullish breakouts are set to begin above 1.1406. A move about the R4 pivot would be considered significant, as it would be the first attempted bullish breakout for the EUR/USD since last Friday’s NFP data print. In this scenario, traders may elect to extrapolate 1X today’s 24 pip range to find initial bullish targets near 1.1430

SSI Data is being tracked in real time. Find out more at the DailyFX’s sentiment page.

Traders looking to gain a directional bias for the EUR/USD should note that SSI (speculative sentiment index) for the pair reads negative at -1.61. Typically, a negative sentiment reading is interpreted as a bullish signal. However, it should be mentioned that sentiment has pulled off slightly from last week’s reading of -1.73. If this value continues to move towards more neutral values this week, it may suggest a change in momentum for the EUR/USD. Conversely, if prices continue to trend higher, SSI should move back towards negative extremes of -2.0 or more.

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.

It’s a new trading month and FXCM is beginning a new $10,000 trading challenge. Learn more about the contest and track the leaderboard HERE.

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

DISCLOSURES