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
More View more
Real Time News
  • Heads Up:🇬🇧 Public Sector Net Borrowing (MAY) due at 06:00 GMT (15min) Expected: £-26.1B Previous: £-31.7B
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • (Tech Special) Canadian Dollar Outlook: USD/CAD Surge Hits Obstacles, Where to Next? #CAD $USDCAD #Loonie #technicalanalysis
  • Hang Seng Tech Index - Bullish MACD Convergence is forming - #HSTECH chart
  • 🇳🇱 Consumer Confidence (JUN) Actual: -3 Previous: -9
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 87.34%, while traders in France 40 are at opposite extremes with 74.19%. See the summary chart below and full details and charts on DailyFX:
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.07% 🇯🇵JPY: -0.07% 🇨🇦CAD: -0.10% 🇨🇭CHF: -0.15% 🇳🇿NZD: -0.15% 🇦🇺AUD: -0.26% View the performance of all markets via
  • Heads Up:🇳🇱 Consumer Confidence (JUN) due at 04:30 GMT (15min) Previous: -9
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.37% FTSE 100: 0.27% Germany 30: 0.26% Wall Street: 0.22% US 500: 0.18% View the performance of all markets via
EUR/USD in Early Stages of ST Triangle; USD/JPY Rebounds at Support

EUR/USD in Early Stages of ST Triangle; USD/JPY Rebounds at Support

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- USDOLLAR Index remains supported by daily 5-EMA.

- USDJPY holds within triangle after test of 119.30/40.

- See the September forex seasonality report.

The USDOLLAR Index continues to digest recent short-term overbought readings on two technical momentum indicators. For the most part, this has meant either churning price action (EURUSD) or mean reversion (AUDUSD and GBPUSD) relative to recent moves. The broad USD strength is highlighted by USDJPY's resiliency within its triangle.

While the pair ultimately failed in its breakout attempt and tested support near ¥119.30/40, unlike equity markets, USDJPY did not fall apart. A bullish engulfing bar/key reversal on the H4 timeframe this morning near ¥119.20/25 - the same area we've seen two morning star candle clusters form over the past three-weeks - suggests that traders aren't ready to commit to further downside in the pair.

This could be for a litany of reasons, but we would focus on speculation over Fed hikes and/or BoJ easing as to why USDJPY's decline relative to the S&P 500 has slowed into the end of Q3'15. It's best to keep a longer-term view here (look at the forest, not the individual trees): until ¥118.20/25 or ¥121.70/75 breaks, USDJPY is still stuck in a consolidation pattern that warrants patience.

See the above video for technical considerations in EURUSD's newly formed short-term triangle, USDCAD's push to fresh yearly highs within its July channel, AUDUSD, USDJPY, and the USDOLLAR Index.

Read more: USDOLLAR Index Supported, but USD/JPY Diverges after False Breakout

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail

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.