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 Download
EUR/USD
Bullish
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
Bearish
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
Bitcoin
Mixed
More View more
Real Time News
  • #Gold prices are down ~0.6% in the past five days. The S&P 500 is down over 12% over the same period. Does this mean people will **finally** stop assuming it a safe haven? I would't count on it. #SPX500 #Coronavirus
  • Get your stock market basics right - what is the stock market and how does stock trading work? Find out here: https://t.co/JfAJLAtlsY https://t.co/xSuOtB59IZ
  • 👀 #Yen $USDJPY $GBPJPY $AUDJPY $EURJPY https://t.co/XfG7wEx4tM
  • #USDJPY abandons the 109 handle for the first time since February 4. https://t.co/eaK775P8kz
  • OPEC Gen Sec says OPEC and its allies are displaying a 'renewed commitment' to reach an accord that will stabilize global oil markets amid the coronavirus crisis- BBG
  • (Analyst Pick) The New Zealand Dollar may fall versus the Australian Dollar on a more-dovish #RBNZ down the road. “Risk-neutral” $AUDNZD has been maintaining composure as stocks selloff on #coronavirus fears - https://www.dailyfx.com/forex/analyst_picks/todays_picks/daniel_dubrovsky/2020/02/28/New-Zealand-Dollar-May-Fall-as-Australian-Dollar-and-AUDNZD-Rise.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/cejRcXpkrw
  • U.S. locks down army bases in South Korea on coronavirus -BBG
  • RT @LiveSquawk: US Locks Down Korean Army Bases To Guard Against Coronavirus - FT https://t.co/xLaapwYFsn
  • U.S. Futures Update [delayed]: Dow Jones (-1.25%) S&P 500 (-1.33%) NASDAQ (-2.00%) -BBG
  • The US #Dollar technical outlook is still pointing higher against the Malaysian #Ringgit and Philippine Peso following near-term weakness. What is the road ahead for $USDMYR and $USDPHP #ASEAN - https://www.dailyfx.com/forex/technical/article/special_report/2020/02/28/Dollar-Technical-Forecast-in-USDMYR-and-USDPHP-Favors-Upside.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/sAwqdqJ3zG
Opening Comment 07.16

Opening Comment 07.16

2010-07-16 04:22:00
Joel Kruger, Technical Strategist
Share:
The Greenback has fallen way out of favor of late and we have been hearing that the latest price action has been attributed to longer-term accounts booking profit on long USD positions, and model funds establishing fresh Euro longs. 
 
Fundamentally, the cooling off of sovereign debt concerns in Europe has also played a large role in the Euro’s rebound, while a downbeat Fed, weaker empire state manufacturing, disappointing Philly Fed, and softer headline PPI have all take away from any appeal the USD might have. It appears that so long as there is little hope for interest rates to move higher in the US, and so long as data continues to show weakness, there is very little reason for market participants to want to be buying the buck, even despite very stretched technical studies.  
 
Looking ahead, all is quiet on the data front in Europe, with the only key release coming in the form of Eurozone trade balance (-0.5B expected) due at 9:00GMT. It is still quite early in Friday trade, but US equity futures and commodities are tracking moderately higher. 
 
 
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 
If you wish to receive Joel's reports in a more timely fashion, e-mail 
instructor@dailyfx.com and you will be added to the "distribution" list.

 If you wish to discuss this topic or any other feel free to visit our 
Forum page

 
 

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

DISCLOSURES

News & Analysis at your fingertips.