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.

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
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
Bullish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • South African Rand clawing back yesterday’s depreciation against the US Dollar. Get your $USDZAR market update from @WVenketas here: https://t.co/9XCvJgRisU https://t.co/qk5KR4DncU
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.17% Gold: -0.57% Silver: -1.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UPpRZN6FET
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.45%, while traders in NZD/USD are at opposite extremes with 69.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JExLntdypk
  • Strong quarter from Nike - Revenue: $10.59B vs $9.11B exp - EPS: $0.95 vs $0.47 exp - However, Nike noted continued Y/Y declines in physical retail traffic - $NKE shares jump more than 8% in after-hours
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.59% Germany 30: 0.39% France 40: 0.38% US 500: 0.00% Wall Street: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/xEWK3sBQzR
  • Australian Dollar has broken parallel support and remains at risk for further losses within the broader June uptrend. Get your $AUDUSD technical analysis from @MBForex here:https://t.co/gTmlLX5t06 https://t.co/zCN6wwnKzC
  • Based on today's chart of the #Nasdaq, do you think we are seeing the beginning of a recovery or just a temporary pause before a deeper decline?
  • archived video of today's webinar posted and ready to go. 1. Equity pullback/reversal potential 2. USD strength shows up in September 3. Which pairs might be most attractive to pick on for USD strength themes https://t.co/3GN25pcJRX
  • UK PM Boris Johnson: -No easy way to tackle coronavirus pandemic -Too many have failed to follow guidelines -Must do all we can to avoid second lockdown -There are unquestionably difficult months to come $GBP $UKX
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.17% Gold: -0.33% Silver: -1.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Xshcpqctej
EUR-Crosses Trading Plan for the Week Ahead

EUR-Crosses Trading Plan for the Week Ahead

2014-10-13 10:20:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Talking Points:

- EURJPY by far weakest looking EUR-pair.

- EURAUD may be flagging; EURGBP, EURUSD test downtrends.

- Euro Rebounds Prove Shallow as Euro-Zone Sits on Cusp of Recession

The Euro has been besieged by market forces over the last three months, but there are nascent signs of a potential bottom developing. For starters, retail crowd positioning in EURUSD has lost its net-long edge, having flipped back and forth over the past few days. The crowd last changed from net-short to net-long back in May before the breakdown accelerated.

While less extreme, futures traders’ sentiment has changed very little over the past month. Net non-commercial/speculative positioning stood at 146.2K net-short contracts, just off the 161.4K net-short contracts for the week ended September 2. This is still a significant amount of shorts to be covered should a rally occur.

The technical pictures are starting to improve for several of the EUR-crosses, reflecting the shifting positioning/sentiment data. EURJPY is the outlier in the group and has fallen to critical support. A further EURJPY sell-off is likely contingent on further pressure developing in global equity markets.

If EURJPY were to stabilize around its current levels it could be due to the generally improved mood for most of the EUR-complex elsewhere. EURUSD has pivoted off a higher low and is threatening the daily 13-EMA once more, while EURAUD attempted to break its bull flag today.

See the above video for technical considerations in EURAUD, EURGBP, EURJPY, and EURUSD.

Read more: FX Markets Flash Classic ’Risk Off’ Mode, Boosting Demand for JPY, USD

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES