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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30AM EST (12:30 GMT) on DailyFX!! -
  • 🇯🇵 PPI YoY (APR) Actual: 3.6% Expected: 3.1% Previous: 1.2%
  • 🇯🇵 PPI MoM (APR) Actual: 0.7% Expected: 0.5% Previous: 0.6%
  • 🇯🇵 PPI YoY (APR) Actual: 3.6% Expected: 3.1% Previous: 1%
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • 8 out of 9 Dow Jones sectors ended higher, with 83.3% of the index’s constituents closing in the green. Energy (+2.62%), materials (+2.57%) and financials (+2.20%) were among the best performers, while communication services (-2.01%) trailed behind.
  • What is your forex trading style? Take the quiz and find out:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • US equities endured turbulent price action last week and could be positioned for further volatility as fundamental forces butt heads and investors look to negotiate the shifting landscape. Get your market update from @PeterHanksFX here:
EUR/USD: Post-ECB Recovery to Face U.S. NFP

EUR/USD: Post-ECB Recovery to Face U.S. NFP

Michael Boutros, Strategist

Talking Points


EURUSD Daily Chart

Technical Outlook: The key focus range for Euro remains 1.0527-1.0620 heading into tomorrow’s U.S. Non-Farm Payrolls report. A breach of this region puts into focus key resistance & broader bearish invalidation at 1.0661 where the 100-day moving average converges on the 50% retracement and slope resistance. A close above this region would be needed to keep the long-bias in play and would suggest a larger-scale recovery is underway in the Euro. Keep in mind that if we close at these levels, the pair will have completed an outside-day reversal off key Fibonacci support (near-term constructive). Critical support remains steady at 1.0455/62 – a region defined by the confluence of the 2015 lows, the 1/11 swing low, the 76.4% retracement and the median-line extending off the January high.


EURUSD 120min Chart

Notes: Today’s post-ECB high registered just pips above the weekly open before pulling back, further highlighting the near-term significance of the 1.0527-1.0620range- look for the break (Ultimately, a breach is favored). From a trading standpoint, heading into NFPs I would be interested in fading strength towards 1.0661on a spike OR buying a more significant dip down towards key confluence support at 1.0455/62.

EUR/USD: Post-ECB Recovery to Face U.S. NFP
  • A summary of the DailyFX Speculative Sentiment Index (SSI) shows traders are net-short EURUSD- the ratio stands at -1.06 (48% of traders are long)- weak bullish reading
  • Long positions are 8.8% lower than yesterday and 15.4% below levels seen last week
  • Short positions are 0.3% higher than yesterday and 17.9% above levels seen last week
  • Open interest is 4.3% lower than yesterday and 17.7% below its monthly average
  • While the current SSI profile continues to point higher, it’s worth noting that the recent narrowing in the ratio (flip to net-short) on falling open interest shows the retail crowd may be t thinning out here. Look for this dynamic to mature in the coming days with a further build in short positions / open interest to suggest that a more meaningful low may be in place.


Relevant Data Releases

EUR/USD: Post-ECB Recovery to Face U.S. NFP

Looking for trade ideas? Review DailyFX’s 2017 1Q Projections

Other Setups in Play:

Written by Michael Boutros, Currency Strategist with DailyFX Follow Michael on Twitter @MBForex contact him at or Click Here to be added to his email distribution list.

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