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
  • Gold and silver are at risk of extending their slide from monthly highs as the lack of additional fiscal stimulus and rising geopolitical tensions underpin USD. Get your market update from @DanielGMoss here: https://t.co/sYF5pV9zrE https://t.co/04Czwv3PpW
  • #Nasdaq 100 Recovering? Biden-Trump #Election2020 Betting Spread Widens⬇️ https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/22/Nasdaq-100-Recovering-Biden-Trump-Election-Betting-Spread-Widens.html
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/00:00 PM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/QaZzPd0K6D
  • The US Dollar is struggling against ASEAN currencies despite weakness in the S&P 500. Capital remains flowing into emerging markets, keeping USD under pressure, could this change? Find out from @ddubrovskyFX here:https://t.co/nwhy3XhE74 https://t.co/7nvijaAruu
  • Retail CFD traders have poked their head back into net bullish territory - an uncommon territory - in their net positioning for the $DJIA (Wall Street). Skeptical of a breakdown it seems https://www.dailyfx.com/sentiment?ref-author=Kicklighter&CHID=9&QPID=917719 https://t.co/g12EqBGkGh
  • The Nasdaq 100-tracking QQQ ETF saw more than -$3.4 billion leave its coffers on Friday. Get your #Nasdaq market update from @PeterHanksFX here: https://t.co/NZWg2XrEuD https://t.co/S9uxEGzJjJ
  • The $QQQ ETF recently saw its largest outflow, followed by its largest inflow since October 2000 What does this mean for the Nasdaq? Read more - https://www.dailyfx.com/forex/market_alert/2020/09/22/Nasdaq-100-Forecast-Exodus-from-Tech-ETF-Has-Worrisome-Historical-Parallel.html?ref-author=phanks&QPID=917701&CHID=9 https://t.co/bS0V5IsS6Z
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.05% 🇳🇿NZD: -0.49% 🇪🇺EUR: -0.55% 🇨🇭CHF: -0.58% 🇬🇧GBP: -0.62% 🇦🇺AUD: -0.74% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/2JBbEKosO9
  • 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
Range in USDOLLAR Index Offers Opportunities on Both Sides This Week

Range in USDOLLAR Index Offers Opportunities on Both Sides This Week

2015-08-04 11:01:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Talking Points:

- EURUSD may have shifted into a symmetrical triangle.

- GBPUSD, USDJPY in similar consolidations/ascending triangles.

- See the DailyFX economic calendar for Tuesday, August 4, 2015.

Event risk this week may jar the USDOLLAR Index from its two-plus week consolidation - at least that's what traders are gearing up for. With several "medium" and "high" ranked data releases over the next few days, we don't think it's very likely that the recent ranges seen formed in EURUSD, GBPUSD, or USDJPY are likely to hold.

For GBPUSD in particular, the end of the week should be volatile. On Thursday, the Bank of England will hold its monthly policy meeting, but will also simultaneously release its policy minutes and the Quarterly Inflation Report; economists are dubbing its 'Super Thursday.' This should provide the market with a thorough, comprehensive, and insightful view of how BoE policymakers will proceed over the next few months - and perhaps prove to be quite the strong catalyst for the British Pound.

GBPUSD, like other USD-pairs, requires patience before any trade is taken. Much like in USDJPY, where price has struggled to break through key resistance near ¥124.60/65, GBPUSD has seen a zone of resistance carved out around $1.5660/5700. Ultimately, a break of the USDOLLAR Index's broader range will likely ensue hand-in-hand with such developments should they occur; we're open to both possibilities and outlined targets for both bull and bear outcomes in the USDOLLAR Index last week.

See the above video for technical considerations in EURUSD, GBPUSD, USDJPY, AUDUSD, and the USDOLLAR Index.

Read more: Dollar Demand Strong at Start of Critical Economic Data Week

--- 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