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.

Free Trading Guides
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
GBP/USD
Bullish
USD/JPY
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
Gold
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
Bitcoin
Bearish
More View more
Real Time News
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMqsC4 https://t.co/Gqd6QYtwau
  • Excellent quote, and very true. https://t.co/ZZxfYkhtUM
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.55%, while traders in Germany 30 are at opposite extremes with 78.28%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mF9IjVDANC
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.19% 🇨🇭CHF: 0.05% 🇪🇺EUR: 0.03% 🇬🇧GBP: -0.10% 🇦🇺AUD: -0.31% 🇳🇿NZD: -0.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/B5s24o9414
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.98% US 500: -1.04% France 40: -1.20% Germany 30: -1.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/smh3lrHlFA
  • AUD/USD Technical Analysis: Aussie Dollar Drop Ends Rebound - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/01/27/AUDUSD-Technical-Analysis-Aussie-Dollar-Drop-Ends-Rebound.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #AUDUSD #technicalanalysis https://t.co/NFK3zlXtVX
  • The exponential moving average (EMA) is a derivative of the simple moving average (SMA) indicator. Compared to the SMA, the EMA weighs recent price changes more heavily than later changes in price. Learn how to incorporate the EMA into your strategy here: https://t.co/w48c0y1yKv https://t.co/3mZ290WMCJ
  • The US Dollar may rise with $USDIDR, $USDSGD, $USDPHP and USD$MYR as #coronavirus contagion fears hurt emerging markets. The #Fed and its repo operations will be closely watched #ASEAN - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/27/USD-May-Rise-as-IDR-SGD-and-PHP-Fall-on-Coronavirus-Fears-and-Fed.html?CHID=9&QPID=917702 https://t.co/xMxoEifAIU
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.61% Gold: 0.52% Oil - US Crude: -2.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EaP6sqAf6A
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.25% 🇪🇺EUR: 0.05% 🇨🇭CHF: 0.04% 🇬🇧GBP: -0.11% 🇦🇺AUD: -0.29% 🇳🇿NZD: -0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/J28cZ72K8a
Will Traders Overlook U.S. Consumer Confidence Due to the Methodology Change?

Will Traders Overlook U.S. Consumer Confidence Due to the Methodology Change?

2011-02-21 16:00:00
Michael Wright, Currency Analyst
Share:

Feb 22

U.S. Consumer Confidence (15:00 GMT)

Expectations: 65.0

Prior: 65.6

Fundamental Outlook

Consumer confidence in the world’s largest economy is expected to fall from a revised 65.6 in January to 65.0 in February as fundamental developments begin to gather momentum. Indeed, last month’s report of 65.6 marked the highest reading since March 2008 as sentiment surrounding expectations and the present situation amongst consumers point to optimism in the region.

Though expectations hint to to an improved reading, currency traders should not rule out a lack luster performance in the currency markets subsequent to the release due to the fact that the Conference Board recently announced that it has changed its polling company and methodology. In particular, buying plans were revised higher across all most components. At the same time, there is expected to be adjustments dating back to November 2010, which may have revised seasonal factors.

All in all, tomorrow’s consumer confidence report may paint a clearer picture with regards to current and forward looking expectations; however, gauging sentiment will be as important as the release itself due to fragile conditions in the U.S.

Technical Outlook

EURUSD 4 Hour Chart

Will_Traders_Overlook_U.S._Consumer_Confidence_Due_to_the_Methodology_Change_body_eurusd.png, Will Traders Overlook U.S. Consumer Confidence Due to the Methodology Change?

Charts Created Using FXCM’s Strategy Trader – Prepared by Michael Wright

EURUSD: The pair managed to cross over above its descending channel last week and now looks poised to test resistance at 1.38. Indeed, there is major support at 1.36 and failure to break below this level may lead prices back towards the 1.37 area. It is also worth noting that our speculative sentiment index stands at -2.14 and signals for further upside risks.

For More Technical Analysis Visit the DailyFX Technical Page

Written by Michael Wright, Currency Analyst

To Receive Future Articles by Email, please contact me at instructor@dailyfx.com

Michael Wright authors FX Headlines, Fundamentals vs. Technical’s, Intraday Trading, Weekly Spotlight, and Forex Trading Weekly Forecast

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

DISCLOSURES

News & Analysis at your fingertips.