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
Bearish
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
Bullish
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
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.32%, while traders in GBP/JPY are at opposite extremes with 69.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kcsD3qjosI
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.87% Gold: 0.42% Silver: 0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SOyVF8iNo4
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/LXxiXJecyJ
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.26% 🇳🇿NZD: 0.24% 🇨🇦CAD: 0.19% 🇯🇵JPY: 0.10% 🇦🇺AUD: 0.10% 🇬🇧GBP: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HqraVadHCu
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.73% Germany 30: 0.67% FTSE 100: 0.66% US 500: 0.64% Wall Street: 0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/l7tN7uRmmb
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/5M6zJ7kDnk
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmIoVZv https://t.co/Lp5XGaWX7n
  • 🇭🇰 GDP Growth Rate QoQ Final (Q1) Actual: 5.4% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-05-14
  • 🇭🇰 GDP Growth Rate YoY Final (Q1) Actual: 7.9% Previous: -2.8% https://www.dailyfx.com/economic-calendar#2021-05-14
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/zD9UMxLCzr
USD Breakdown Slows: Can Buyers Swing a Pullback? EURUSD, GBPUSD

USD Breakdown Slows: Can Buyers Swing a Pullback? EURUSD, GBPUSD

James Stanley, Senior Strategist

US Dollar, EURUSD, GBPUSD Price Analysis:

US Dollar Breakdown Tangles with a Big Level

We’ve just seen the rare occasion in which currency markets took at least some of the spotlight away from stocks. As the US Dollar broke down yesterday, a number of major pairs broke out and many markets are coming off of fresh yearly highs. EUR/USD and AUD/USD are two of the more popular areas that highlight that theme, but now that the US Dollar is perched down to a fresh low the natural next question is – what’s next?

The answer to that question is likely going to be dependent on the venue with which it’s being analyzed, as a continuation of USD strength may be a bit more difficult to imagine in EUR/USD or AUD/USD as bulls have continued to press each market with a minimum of pullback as big resistance zones have come into play.

At this point, the USD sell-off appears to be slowing after dipping below the 95.00 level on DXY. This level had previously helped to set the low for the currency in early-2019 and that yearly low held until the brief incursion in March. Now with this key price back in-play, will bears be able to generate enough weakness to constitute a lasting break?

US Dollar Weekly Price Chart

US Dollar Weekly Price Chart

Chart prepared by James Stanley; USD, DXY on Tradingview

EUR/USD Breaks Out to Fresh Yearly Highs – Finds Fibonacci Resistance

The most popular USD-pair of EUR/USD had a big breakout yesterday, helped along by some fundamental themes in Europe. This helped EUR/USD push up to a fresh yearly-high, taking out a number of resistance levels along the way. But, as of this morning, another resistance level has come into the equation and this resides at 1.1597, as the 50% marker of the 2018-2020 major move. This was highlighted earlier today by Ms. Tammy Da Costa in the article, Euro Price Analysis: EUR/USD Breaks Above Key Level of Prior Resistance.

With the pair stretched and holding around that fresh yearly high – the stage is set: If the USD does pose a deeper breakdown, EUR/USD can possibly push up towards the 1.1700 handle. Outside of that, a pullback in the USD sell-off could allow for a reversal-type-of-theme in EUR/USD from this resistance level.

EUR/USD Daily Price Chart

EURUSD Daily Price Chart

Chart prepared by James Stanley; EUR/USD on Tradingview

GBP/USD Pulls Back, Finds Support at Prior Resistance

Similarly, GBP/USD has had a bullish outlay for much of Q3, driving up to a fresh monthly high to kick off this week. But, unlike the breakout in EUR/USD that just continued to run even whilst overbought, GBP/USD pulled back, found support at prior resistance, and has since began to move-higher. This may be a more attractive candidate for short-USD continuation scenarios given the potential for bullish trend continuation.

GBP/USD Four-Hour Price Chart

GBPUSD Four Hour Price Chart

Chart prepared by James Stanley; GBP/USD on Tradingview

--- Written by James Stanley, Strategist for DailyFX.com

Contact and follow James on Twitter: @JStanleyFX

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

DISCLOSURES