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
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
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/fqxw1AoKc1
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here: https://t.co/B3Jct6mIBD https://t.co/xTGIM2hRBv
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here: https://t.co/S8UoHzOwFN https://t.co/qI6UZdggvM
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/6wxX6oQurn
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/w009tJEQZn
  • 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: https://t.co/rfwUWJfbz9 https://t.co/2AeO1AdD2M
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/INJz4NSugQ
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZX8cS https://t.co/qdrsi61CN8
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/IyQdfq29fz
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/R7pa7DsM8n
Trump Presidency Fuels EUR/USD Gains

Trump Presidency Fuels EUR/USD Gains

Jeremy Wagner, CEWA-M, Head of Education

As Donald Trump secured the 270 electoral votes needed to win the presidential vote, EUR/USD went on a 300 pip run higher. Will the gains continue?

This move was likely fueled by rate hike expectations softening due to uncertainty surround Donald Trump as president. At the beginning of Tuesday, the Fed Fund futures implied a near lock of a rate hike taking place in December 2016. As the votes tally and with Mr. Trump winning, those rate hike expectations began to decreases driving the EUR/USD exchange rate higher, implying a weaker US Dollar.

From a technical perspective, EUR/USD plowed higher above a resistance trend line and the 200 day simple moving average. EUR/USD even pushed into 1.1300 which was technical resistance.

If prices are able to break above the overnight high of 1.13, then the next level of measured resistance appears near 1.1460.

The key level to watch is 1.10. A break below here seals the move since October 25 as a three wave move and increases the odds of a revisit towards 1.08.

From an Elliott Wave perspective, we are considering the possibility of a double flat pattern which would continue to grind higher and possibly retest 1.18. But first, we need to see which breaks first, 1.10 or 1.13.

This is a shorter term outlook for EUR/USD. For a longer term perspective on EUR or USD, download these forecasts.

Join Jeremy on Monday’s for the US Opening Bell webinar where he discusses technical patterns to watch for the coming week. You can sign up for the free webinar here.

Trump Presidency Fuels EUR/USD Gains

Created with Tradingview

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

DISCLOSURES