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
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
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
Mixed
More View more
Real Time News
  • WTI crude oil prices (WTI) lost 4.7% so far this week. Demand concerns and a rising US Dollar sent crude oil prices lower on Thursday. Cloudy economic recovery prospects weighed on sentiment, despite falling US crude inventories. https://t.co/nVHCe4DX3g
  • Based on recent price action in the US Dollar, might... $USDSGD $USDMYR $USDPHP $USDIDR ...be heading higher next? Check out my latest #ASEAN technical update here - https://www.dailyfx.com/forex/technical/article/special_report/2020/09/24/US-Dollar-Comeback-Ahead-USDSGD-USDMYR-USDPHP-USDIDR.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/9sIQFVeydt
  • Wall Street Futures Update: Dow Jones (-0.393%) S&P 500 (-0.418%) Nasdaq 100 (-0.653%) [delayed] -BBG
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/FXpr6RibWT
  • Markets attempted pull risk trends out of their dive this past session, but sentiment (via $SPX) ultimately returned to its bearish course. Meanwhile, $EURUSD is consistent with its reversal. My video for today: https://www.dailyfx.com/forex/video/daily_news_report/2020/09/24/EURUSD-Extends-its-Dive-as-Late-Day-Selloff-Puts-SP-500-On-Verge-of-Correction.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/Q6JZKW2B1y
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.57%, while traders in EUR/GBP are at opposite extremes with 64.76%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JHNAiIgVLv
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.11% 🇪🇺EUR: -0.02% 🇯🇵JPY: -0.06% 🇨🇦CAD: -0.08% 🇳🇿NZD: -0.22% 🇦🇺AUD: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/im3IxxDQ3y
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.15% US 500: 0.12% FTSE 100: -0.94% Germany 30: -1.00% France 40: -1.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/X6mMfIY6HW
  • The US Dollar, British Pound, and Euro will all be closely watching key geopolitical developments in North America (Powell testimony), the UK (Brexit talks) and Europe (EU summit). Get your market update from @ZabelinDimitri here:https://t.co/q4AJW6PTCu https://t.co/e0rwBFOnqX
  • RT @stlouisfed: The current recession has in many ways been more extreme than the Great Depression, yet the economy is projected to recover…
EUR/USD Rebounds from an Initial Decline on ADP Figures

EUR/USD Rebounds from an Initial Decline on ADP Figures

2016-07-07 15:15:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • EUR/USD Rebounds After ADP Employment Numbers Beat Expectations
  • Historical Bearish Price Distributions Begin at 1.1078
  • If you are looking for more trading ideas for the Euro, check out our Trading Guides

The EUR/USD is trading higher after ADP Employment Change numbers for June beat expectations. These figures were expected at 160k but were released at an actual 172K. After a momentary dip in price action, the EUR/USD has now rebounded and is trading just beneath 1.1100. Not only is this value acting as a whole number of resistance for the pair but it is also currently acting as an area of trend line resistance.

EUR/USD, 30 Minute Chart

EUR/USD Rebounds from an Initial Decline on ADP Figures

(Created by Walker England)

As prices trade toward 1.1000, traders may continue to monitor short term momentum for the EUR/USD. Displayed in the 3-minute chart below, the EUR/USD has been trending higher. The GSI indicator has noted this short-term upswing in price, by highlighting a series of higher highs that have printed since this morning’s news event. After reviewing 49,077,822 pricing points, GSI has indicated that price action has advanced a minimum of seven pips in 52% of the 189 matching historical events.

This has been followed by an additional 8-pip rally in 29% of historical instances. Traders looking for a return to the early bearish market conditions should watch for a move to the last historical bearish distribution found at 1.1054. A move to this value would represent a decline of 40 pips, which occurred in 7% of matching events.

Want to learn more about GSI? Get started learning about the Index HERE.

EUR/USD 3 Minute GSI Chart

EUR/USD Rebounds from an Initial Decline on ADP Figures

(Created by Walker England)

Sentiment for EUR/USD is currently negative, with SSI (speculative sentiment index) reading at -1.27. With 53% of positioning long, SSI has a slight bias towards a EUR/USD decline. In the event of a further price decline, traders should look for SSI to extend to a negative extreme of -2.0 or less. Alternatively, in the event that the EUR/USD trades higher, traders should watch for SSI to neutralize and potentially flip towards a positive reading.

EUR/USD Rebounds from an Initial Decline on ADP Figures

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