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
GBP/USD
Bearish
USD/JPY
Mixed
Gold
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
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
Bitcoin
Bearish
More View more
Real Time News
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: US 500: 0.11% Wall Street: 0.10% France 40: 0.01% Germany 30: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UWRcuQLyJ0
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/7NYdsv43yx
  • European Opening Calls From IG: #FTSE 7450 -0.09% #DAX 13774 -0.11% #CAC 6103 -0.13% #AEX 628 -0.22% #MIB 25419 -0.23% #IBEX 10067 -0.17% #STOXX 3857 -0.22%
  • Heads Up:🇨🇭 CHF Industrial Output w.d.a. (YoY) (4Q) due at 07:30 GMT (15min), Actual: N/A Expected: N/A Previous: 8.0% https://www.dailyfx.com/economic-calendar#2020-02-20
  • GBP/USD Technical Analysis: British Pound Trend Reversal in Play - https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2020/02/20/GBPUSD-Technical-Analysis-British-Pound-Trend-Reversal-in-Play.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #GBPUSD #technicalanalysis https://t.co/R74kxDFLc7
  • 🇪🇺 EUR German GfK Consumer Confidence (MAR), Actual: 9.8 Expected: 9.8 Previous: 9.9 https://www.dailyfx.com/economic-calendar#2020-02-20
  • Heads Up:🇪🇺 EUR German GfK Consumer Confidence (MAR) due at 07:00 GMT (15min), Actual: N/A Expected: 9.8 Previous: 9.9 https://www.dailyfx.com/economic-calendar#2020-02-20
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/YZQdz0J9Qx
  • The #Euro may retrace higher before resuming a selloff that brought the single currency to the lowest level in close to three years against the US Dollar. Get your market update from @IlyaSpivak here: https://t.co/6tE2Xibkiw https://t.co/LW8VClzEHx
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.26%, while traders in France 40 are at opposite extremes with 85.07%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/o7bhcPUReq
Opening Comment 07.20

Opening Comment 07.20

2010-07-20 04:07:00
Joel Kruger, Technical Strategist
Share:
First it was the Hungary/IMF news that should have marked a serious dent in demand for the Euro, and then a Moody’s downgrade to Ireland, followed by reports that German lender Hypo Real Estate had failed the stress tests. After all was done, the Euro managed to close slightly higher on the day on Monday, and it now appears that there is very little to deter the currency from continuing on its intense recovery path. Other currencies were relatively unchanged, although we did manage to see relative weakness in both Sterling and Swissie on cross related demand for Eur/Gbp and Eur/Chf
 
The key release in Tuesday trade thus far has undoubtedly been the RBA Minutes. However, the release has failed to materially impact price action after there were no surprises. The central bank seemed to try to play down the importance of the upcoming inflation data due next week saying the central bank will take all information into account. RBA Stevens expressed uncertainty over next year’s global prospects but remained optimistic over Australia’s economic conditions, his generally upbeat economic views imply the tightening bias is still intact. 
 
Looking ahead, German producer prices (0.2% expected) are due at 6:00GMT followed by the Swiss trade balance at 6:15GMT. Attention then turns to the UK at 8:30GMT with the releases of bank mortgage approvals (52k expected), public finances (16.0B expected), public net borrowing (13.0B expected), and M4 money supply (-0.1% expected). More UK data follows at 10:00GMT in the form of CBI trends total orders (-24 expected) and CBI business optimism (22 expected). It is still quite early in Tuesday trade but US equity futures are pointing lower while commodities are flat. 
 
 
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.