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.

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
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
More View more
Real Time News
  • $USDJPY has spanned its full, tight range. The has slightly broadened its smallest 30-day trading range (as a ratio of spot) on record. Serious breakout candidate should a firm risk or Fed rate speculation wind come through https://t.co/XyajC1dAee
  • Seems this once-Hawkish view from Cleveland Fed President Loretta Mester is becoming the consensus for the FOMC https://t.co/uHAmcRFNlG
  • - Supports November taper - Still some distance from maximum employment goal needed for raising rates
  • Fed's Mester - Economy has met substantial further progress bar for taper - On inflation bar for raising rates has largely been met - Expect conditions for first rate hike to be met by end of next year
  • Heads Up:🇬🇧 BoE Tenreyro Speech due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-24
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9FlspUVZz https://t.co/HFl8E8exht
  • Credit Suisse dumped Evergrande exposure on risk fears - FT
  • RT @onlyyoontv: #China central bank declares #virtualcurrency-related business activities as illegal. No legal tender/crypto exchange; exch…
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM73cHA https://t.co/2wzX4dacYJ
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSzVO22 https://t.co/HiE4d0KG1Q
EUR/USD Tests Monthly Lows

EUR/USD Tests Monthly Lows

Walker England, Forex Trading Instructor

Talking Points:

The EUR/USD has fallen just shy of new monthly lows, as the US Dollar resumes strengthening in the short term. Technically, the EUR/USD is trending lower in the short term, after putting in a new 2017 high at 1.0829 earlier in the month. Short term traders should note that the EUR/USD remains below its 10 Day EMA (exponential moving average) found at 1.0618. As long as the pair trends lower, this average may be referenced as a short term value of support.

EUR/USD, Daily Trend with Averages

EUR/USD Tests Monthly Lows

(Created Using IG Charts)

Traders tracking the US Dollar Basket should note that the Index is again trending higher after a short retracement last week. Currently prices are pressing to a new monthly high, above last week’s peak at 101.32. If prices continue to rise in the short term, the next technical test for the US Dollar will be the January 19th swing high found at 101.67. A move beyond this point exposes longer term points of resistance, which includes the standing 2017 high at 103.80.

If the US Dollar begins to weaken, traders will first look for the Index to decline below the displayed 10 Day EMA found at 100.85. This line is currently acting as a point of support, and a breakout below this value would suggest a shirt in the US Dollar’s short term trend. In a bearish scenario traders should next look for prices to challenge last week slow which is found at 100.35.

US Dollar Basket, with Averages

EUR/USD Tests Monthly Lows

(Created Using IG Charts)

--- Written by Walker, Analyst for DailyFX.com

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