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.



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
Wall Street
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
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • 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:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
Dollar Strength Takes EUR/USD Into Key Support, USD/JPY Above 100-DMA

Dollar Strength Takes EUR/USD Into Key Support, USD/JPY Above 100-DMA

Tyler Yell, CMT, Currency Strategist

Interested in improving your trading outlook? You may find our FREE trading guides helpful.

Talking Points:

US dollar strength picked up on Tuesday where it left off on Monday. The strength for the greenback was clearly seen against the haven currencies, the CHF & JPY, as well as EUR and AUD. Haven currencies have failed to rally as the CBOE S&P Implied Volatility Index or VIX closed on Monday at its lowest level since 1993. The Australian dollar, on the other hand, failed to find strength after being aggressively sold as Iron Ore continues its free fall due to fear of increasingly weak demand in China.

USD/JPY appears to be the clear USD play as JPY took over the weakest position in the G8 strong/ weak index on Tuesday, replacing the Australian Dollar. On Tuesday, USD/JPY traded above the 100-DMA, and we could be working on a move toward the early March high of 115.50 if the current environment remains undisturbed. Currently, the strongest G8 currency in early May is the British Pound, which will soon have ‘Super Thursday’ to help determine whether cable has further upside. According to data from the Depository Trust & Clearing Corporation (DTCC) that was gathered by Bloomberg, there is a developing theme of Bullish USD/JPY options (calls) that are spread out over the coming year. The most Bullish of the $12 billion in options favoring further USD strength was looking for a touch of 133 in USD/JPY by next year.

Recommended reading: Build Your Trading Plan around the Strongest Currencies

Short-term momentum remains in favor of USD. However, to get a better picture on what’s developing in EUR/USD, we should look to the short-term chart (shown below). While there are fundamental developments that favor further EUR upside, the chart needs to agree. An agreement from the chart may look like a failure for EUR/USD to break below the 1.0850/1.0740. If the price stalls above or in this zone, and then breaks higher, we could be resuming a move higher, which would favor a move into new 2017 highs. A break and close below 1.0740 would open up the view that DXY strength may be finding fresh favor across the board, and not just against weak currencies like AUD, JPY, & CAD.

JoinTylerin hisDaily Closing Bell webinars at 3 pm ETto discuss tradeable market developments.

Would you like to see what our Analysts forecast for EUR longer-term?Find out here!

Closing Bell’s Top Chart: May 9, 2017, ST EUR/USD stares down key support at 1.0850/1.0740

Dollar Strength Takes EUR/USD Into Key Support, USD/JPY Above 100-DMA

Tomorrow's Main Event:NZD Reserve Bank of New Zealand Rate Decision (MAY 11)

IG Trader Sentiment Highlight:Contrarian View on CAC 40 encourages watching for a turn lower

Dollar Strength Takes EUR/USD Into Key Support, USD/JPY Above 100-DMA

France 40: As of May 9, retail trader data shows 46.6% of traders are net-long with the ratio of traders short to long at 1.14 to 1. In fact, traders have remained net-short since Apr 19 when France 40 traded near 5094.6; price has moved 5.7% higher since then. The number of traders net-long is 3.4% lower than yesterday and 108.9% higher from last week, while the number of traders net-short is 0.2% higher than yesterday and 37.7% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests France 40 prices may continue to rise. Positioning is more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed France 40 trading bias.(Emphasis Mine)

The aggressive rise in long-positioning will take on more importance if price can break below chart support. Admittedly, we’re a long way from said support, which currently lies at the April 19 low at 4,978.7 or ~9% from Tuesday’s close.


Written by Tyler Yell, CMT, Currency Analyst & Trading Instructor for

To receive Tyler's analysis directly via email, please SIGN UP HERE

Contact and discuss markets with Tyler on Twitter: @ForexYell

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