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.

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
Oil - US Crude
Bullish
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
Bearish
Gold
Mixed
GBP/USD
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
USD/JPY
Bullish
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
More View more
Real Time News
  • The Dow Jones, Nasdaq 100 and S&P 500 await much needed insight from the Federal Reserve on the central bank’s planned policy path given recent economic data releases. Get your market update from @PeterHanksFX here:https://t.co/bZso3WxyC6 https://t.co/d4YJ8jbGok
  • GBP/USD Eyes Trend Support as US Dollar Awaits Fed Dot Plot -via @DailyFX Link to Analysis: https://www.dailyfx.com/forex/market_alert/2021/06/14/gbp-usd-eyes-trend-support-as-us-dollar-awaits-fed-dot-plot.html $GBPUSD #Forex #Trading https://t.co/1BkZ4x0uCG
  • Are gold prices the ‘canary in the coal mine’ for the Federal Reserve meeting? Taper talk may indeed be on the menu (even if it won’t formally arrive until later this year). Get your $XAUUSD market update from @CVecchioFX here:https://t.co/gsoRisZzV6 https://t.co/cjqt0SvWIx
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.17% 🇦🇺AUD: 0.10% 🇪🇺EUR: 0.09% 🇬🇧GBP: -0.05% 🇨🇭CHF: -0.19% 🇯🇵JPY: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Yx2O1n8Yxc
  • The 35-day historical range on $AUDJPY matches the smallest range (as a percentage of spot) on record for the pair with the extreme summer lull back in July 2014. Will it end with a bang or whimper? https://t.co/StryktBbrr
  • ECB monthly purchases under PEPP appear to be slowing. PEPP purchases for the first two weeks of June only totaled about 31 bln euros $EUR https://t.co/RUAi61HTQJ
  • The EUR/USD rally has stalled at a key resistance confluence around the objective yearly open. Get your $EURUSD market update from @MBForex here:https://t.co/YdjKTU4gtW https://t.co/HmOJxy2F29
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.33% Silver: -0.24% Gold: -0.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kRDUQxM66L
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 74.60%, while traders in France 40 are at opposite extremes with 78.10%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/gwcS9vcLhL
  • S&P 500, Nasdaq 100 close at fresh record highs $NDX $SPX $ES_F
Guest Commentary: Time to Switch a Currency Pair?

Guest Commentary: Time to Switch a Currency Pair?

Yohay Elam, Forex Crunch,

Are you trading the same pair all the time? You might feel that you know everything moving it, and all its regular patterns. But perhaps you can't see the forest for its trees.

Maybe it's time to expand your horizons with other currency pairs. Here are some suggestions.

EUR/USD is definitely a great pair to trade: the highest volume in the world, lots of news that moves it and lots of analysis available for it. Sometimes the huge supply of analysis can just make it confusing.

Where exactly are the support and resistance lines? It depends on which analysis you read. What is the short term trend? The same answer applies.

To a lesser extent, also GBP/USD enjoys high volume, high coverage and its moves are usually stronger than in EUR/USD. Do you choose GBP/USD over EUR/USD when you want to ride on sharper moves? You're not alone.

Also focusing on solely two currency pairs can be problematic. You might have the historic charts in your head, but do you still see the big picture? You might be totally worn out after extreme usage of only one or two currency pairs.

The negative effects are seeing a potential trade when it's not there, or missing out a big move because you are too focused on unimportant details.

Alternatives

Diversification is the simple answer: it allows you to return to the basics and start and analysis with a fresh, unbiased mind. The lines that you'll draw on the charts have a better chance of being genuine.

You might have some fear of dipping your feet into uncharted territory, but you may find that the waters can be clearer.

An alternative with that has high volume is USD/JPY. After a long period of hibernation, this pair is enjoying new life and boasts nice moves. You might be afraid that this pair will return to its frustrating behavior.

Two better alternatives are the Aussie and the Kiwi. AUD/USD enjoys a relatively high volume. It already passed the volume of USD/CHF, a classic major pair. In addition, its technical behavior is consistently neat.

There is some fear that the tables are turning for the pair's rise and its behavior as well, now that China is slowing down. Australia is very sensitive to Chinese demand.

NZD/USD can be a better alternative: its technical behavior is quite impressing. In addition, New Zealand is somewhat less vulnerable to China than the Aussie.

Both countries may be far from where you are and the currency pairs' charts are unfamiliar. Nevertheless, the charts are at hand, and you may find some pleasant surprises there.

Needless to say, there are many more currency pairs, including crosses of course.

How many currency pairs do you follow? Do you diversify the currency pairs that you trade?

Further reading: 5 Most Predictable Currency Pairs

By Yohay Elam, Forex Crunch

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

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

DISCLOSURES