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
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
Bearish
Wall Street
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
Gold
Mixed
GBP/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
USD/JPY
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
More View more
Real Time News
  • Bearish Gartley Pattern Hints at Downward Potential for Nas100 - #NDX chart https://t.co/37TnsEsOqf
  • Japan's Aso: - Around 4 trillion Yen left in reserve funds - It is unlikely that reserve funds will be insufficient - BBG $USDJPY
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.15% Oil - US Crude: -0.48% Silver: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9IUnKsOJmx
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/dS3yMypxer
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.05% 🇨🇭CHF: 0.03% 🇦🇺AUD: 0.02% 🇨🇦CAD: -0.04% 🇳🇿NZD: -0.08% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8RjWgZnVuC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.19%, while traders in France 40 are at opposite extremes with 70.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/V8ZnsZ4edi
  • S&P 500 Index Rebound May Offer Relief for Nikkei 225 and ASX 200 https://www.dailyfx.com/forex/market_alert/2021/05/14/SP-500-Index-Rebound-May-Offer-Relief-for-Nikkei-225-and-ASX-200.html https://t.co/ZnGfxTKewh
  • Update on #Cryptocurrencies #BITCOIN +1.94% #BITCOINCASH +5.98% #ETHEREUM +3.83% #RIPPLE +4.27% #LITECOIN +4.10% #DOGECOIN +10.44%
  • The British Pound gained aggressively, placing the focus on levels that may send GBP/USD and GBP/JPY lower, with EUR/GBP still open to a turn higher. Will Sterling’s advance continue? Get your $GBP market update from @ddubrovskyFX here:https://t.co/PHoCHVc20M https://t.co/NKKwqiEESG
  • RT @FxWestwater: #Corn had quite the day, with a big limit-down drop after the USDA #WASDE report forecasted higher ending stocks. https://…
EUR/USD Price Outlook: Euro Constructive Above 1.14

EUR/USD Price Outlook: Euro Constructive Above 1.14

Michael Boutros, Strategist

EUR/USD Price Outlook: Euro Constructive Above 1.14

Euro rebounded off slope support last week with the rally now targeting a key pivot zone. These are the targets & invalidation levels that matter on the EUR/USD charts.

Euro is testing a critical pivot range after rebounding off slope support last week at the 1.13-handle. Here are the updated targets and invalidation levels that matter on the EUR/USD charts heading into Jackson Hole this week. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

EUR/USD Daily Price Chart

EUR/USD Daily Price Chart

Technical Outlook: In my latest Analyst Pick, we highlighted a key weekly support barrier in EUR/USD around the 1.13-ahndle while noting that, “IF price is going to get a near-term recovery, this would be a good place to look- willing to play the long-side for now.” Euro has rallied more than 2% off the lows with the price now testing a critical pivot range at 1.1530/54 – a region defined by the 2016 high-close and the November low. Looking for a near-term reaction here.

A breach / close above this threshold is needed to fuel the next leg higher targeting the 50-line, just shy of 1.16, and the highlighted slope confluence around ~1.1660. Interim support rests at 1.1437/48 with bullish invalidation now raised to the low-day close at 1.1345.

New to Forex Trading? Get started with this Free Beginners Guide

EUR/USD 240min Price Chart

EUR/USD 240min Price Chart

Notes: Our ‘bottom line’ in last week’s Euro Scalp Report cited that, “The immediate short-bias is vulnerable heading into these support targets with a breach above 1.1448 needed clear the way for a larger recovery.” A closer look at price action further highlights this level as near-term support now with the risk still higher while above the weekly opening range lows. Initial topside resistance objectives at 1.1576 backed by 1.1652/60.

Why does the average trader lose? Avoid these Mistakes in your trading

Bottom line: Euro is testing the first major resistance hurdle on the back of last week’s reversal and could limit the topside near-term. From a trading standpoint, the immediate threat may be for a pullback but the outlook remains constructive while above the weekly open for now. I’ll favor fading weakness targeting a topside breach of this pivot range. Ultimately, a break / close below 1.1345 would be needed to mark resumption of the broader downtrend.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

EUR/USD Trader Sentiment

EUR/USD Trader Sentiment
  • A summary of IG Client Sentiment shows traders are net-short EUR/USD - the ratio stands at -1.1 (47.6% of traders are long) – weak bullishreading
  • The percentage of traders net-long is now its lowest since July 3rd
  • Long positions are10.8% lower than yesterday and 19.1% lower from last week
  • Short positions are 19.7% higher than yesterday and 30.2% higher from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Euro prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current positioning and recent changes gives us a stronger EUR/USD-bullish contrarian trading bias from a sentiment standpoint.

See how shifts in EUR/USD retail positioning are impacting trend- Learn more about sentiment!

---

Relevant EUR/USD Economic Data Releases

EUR/USD Economic Calendar

Economic Calendar - latest economic developments and upcoming event risk. Learn more about how we Trade the News in our Free Guide!

Other Trade Setups in Play

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com

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

DISCLOSURES