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
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
Oil - US Crude
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
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/F7qhF7cazx
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.38% 🇨🇭CHF: 0.29% 🇨🇦CAD: 0.28% 🇯🇵JPY: -0.03% 🇦🇺AUD: -0.22% 🇳🇿NZD: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/uDphropBki
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.68% Silver: 0.37% Oil - US Crude: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/GjCpxqPpKk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XBXs1LXXEF
  • Ontario Premier: Ontario is extending its stay-at-home order to six full weeks $CAD
  • As UK vaccination rates have slowed, coupled with a backdrop of calmed UK Gilt yields, the British Pound’s relative appeal that carried it through the first three months of 2021 has been tarnished. Get your market update from @CVecchioFX here:https://t.co/7aZHtoa1vg https://t.co/YQYvJ17SMb
  • For most of 2021, the US 10Y yield remained in an ascending channel. In recent sessions, yields have cooled thanks to a dovish Fed. Also of note, markets appear to be signaling that US outperformance is now fully priced in. https://t.co/QD7ctvXB6T
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.40% Germany 30: 0.35% FTSE 100: 0.27% US 500: -0.01% Wall Street: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/TQst43wrMf
  • GBP: Gradual chopping decline since Feb smacks of corrective behavior. Bull-flag coming into view that could soon trigger. Get your $GBP market update from @PaulRobinsonFX here:https://t.co/ndjE4K0Nmk https://t.co/8dxgUTYH7V
  • #Bitcoin lower by more than 2.5% as Turkey bans crypto payments, citing risks #BTC $BTCUSD https://t.co/KFj1mJjBpp
US Dollar Price Outlook: Q4 Pullback, EUR/USD Resistance Test

US Dollar Price Outlook: Q4 Pullback, EUR/USD Resistance Test

James Stanley, Senior Strategist

US Dollar Talking Points:

US Dollar Reversal Continues

We’re now a week into Q4 trade and the US Dollar continues to show signs of reversal. The Greenback came into Q4 with a full head of steam, rushing up to fresh two-year-highs last Tuesday to mark the Q4 open. But, since then, a series of bad US data prints has taken the air out of those sails, and the USD continues to pull back, now working on the fifth consecutive day of losses to begin Q4 trade.

This echoes the view from our Q4 technical forecast on the US Dollar, in which a rising wedge formation was coupled with a very interesting fundamental backdrop around the US currency. As US data continues to print in a rather negative manner, shown last week in both services and manufacturing ISM reports to go along with flat Average Hourly Earnings from NFP, the potential for a deeper pullback in the US currency remains as we trade deeper into the final quarter of 2019.

US Dollar Daily Price Chart

us dollar daily price chart

Chart prepared by James Stanley; US Dollar on Tradingview

EUR/USD Tests Trendline Resistance at 1.1000

As looked at in last Thursday’s webinar, this pullback in the US Dollar has allowed for a retracement in EUR/USD after the pair came into Q4 rushing down to fresh two-year-lows. The area around 1.1000 is confluent as a psychological level and a prior area of support, and just a bit higher is a trendline projection as taken from June, August and September swing-highs.

EUR/USD Four-Hour Price Chart

eurusd four hour price chart

Chart prepared by James Stanley; EURUSD on Tradingview

To read more:

Are you looking for longer-term analysis on the U.S. Dollar? Our DailyFX Forecasts have a section for each major currency, and we also offer a plethora of resources on Gold or USD-pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD. Traders can also stay up with near-term positioning via our IG Client Sentiment Indicator.

Forex Trading Resources

DailyFX offers an abundance of tools, indicators and resources to help traders. For those looking for trading ideas, our IG Client Sentiment shows the positioning of retail traders with actual live trades and positions. Our trading guides bring our DailyFX Quarterly Forecasts and our Top Trading Opportunities; and our real-time news feed has intra-day interactions from the DailyFX team. And if you’re looking for real-time analysis, our DailyFX Webinars offer numerous sessions each week in which you can see how and why we’re looking at what we’re looking at.

If you’re looking for educational information, our New to FX guide is there to help new(er) traders while our Traits of Successful Traders research is built to help sharpen the skill set by focusing on risk and trade management.

--- Written by James Stanley, Strategist for DailyFX.com

Contact and follow James on Twitter: @JStanleyFX

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

DISCLOSURES