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.



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
Wall Street
More View more
Real Time News
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here:
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here:
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here:
Learn Forex: Scalping Short Term Forex Momentum

Learn Forex: Scalping Short Term Forex Momentum

Walker England, Forex Trading Instructor

Article Summary: The EURJPY has advanced 999 pips from the December low. As trading opens for 2013, short term market momentum can be used to identify fresh Forex scalping opportunities.

Trading short term trends in the Forex market relies heavily on identifying momentum. Regardless of the scalping strategy we ultimately end up trading, it is always important to determine if we are looking to buy or sell a currency pair prior to proceeding with our technical analysis on shorter term time charts. Today we will review the ongoing EURJPY trend and see if there is an opportunity for continued upside momentum.

The EURJPY has continued to be an excellent choice for scalpers since we last discussed its movements on December 5th. Looking back on the 4Hour chart below, the EURJPY has advanced in price as much as 999 pips from its December 2012 lows. With price now breaking higher highs to start 2013 trading, we will turn to our Building Blocks to find the key points in momentum for scalping opportunities.

Learn Forex – EURJPY 4Hour Trend

Learn_Forex_Scalping_Short_Term_Forex_Momentum_body_Picture_2.png, Learn Forex: Scalping Short Term Forex Momentum

(Created using FXCM’s Marketscope 2.0 charts)

EURJPY Building Blocks

Pictured below we can see our current Building Blocks for the EURJPY updated through todays pricing on a 30 minute graph. The analysis for Block 1 began on Wednesday December 26th. From this point the market made a seemingly one way move, advancing as much as 293 from its Block 1 low at 111.75 114.68. From this point the market slowly advanced confirming market momentum to the upside by printing a Block 1 high at 107.65.

As we have previously discussed, strong trends must have price in both Building Blocks heading in the same direction. Our analysis reveals that the standing low on the EURJPY resides inside of Block 2 at 113.10, which is considerably higher than the low found in Block 1. With both a higher high and a lower high being printed, Block 2 is indicative of strong continued upside momentum.

Learn Forex – EURJPY Building Blocks

Learn_Forex_Scalping_Short_Term_Forex_Momentum_body_Picture_1.png, Learn Forex: Scalping Short Term Forex Momentum

(Created using FXCM’s Marketscope 2.0 charts)

With both building blocks in the graph above painted blue and price pointing higher, the short term trend for the EURJPY remains upward. With the current direction of momentum identified scalpers will look to buy the EURJPY on future market advances. Alternative scenarios include a breakout under the Block 2 support, residing at its low at 113.10. A move below this point would conclude the EURJPYs current bull run,while temporarily changing the trading bias on the EURJPY.

---Written by Walker England, Trading Instructor

To contact Walker, email . Follow me on Twitter at @WEnglandFX.

To be added to Walker’s e-mail distribution list, send an email with the subject line “Distribution List” to .

Been trading FX but wanting to learn more? Been trading other markets, but not sure where to start you forex analysis? Register and take this Trader Quiz where upon completion you will be provided with a curriculum of resources geared towards your learning experience.

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