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.



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
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
Wall Street
More View more
Real Time News
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • 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:
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here:
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here:
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here:
  • 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:
  • It was a big Q1 for $USDJPY but so far Q2 has been a far different tone. Which side will prevail? Get your market update from @JStanleyFX here:
EURUSD Threatens Bullish Trend- Dovish ECB to Trigger Shorts

EURUSD Threatens Bullish Trend- Dovish ECB to Trigger Shorts

David Song, Strategist

Talking Points:

- USDOLLAR Rebounds as ISM Non-Manufacturing Tops Forecast

- Euro Threatens Key Support as EU Trims Growth Outlook





Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index







Forex_EURUSD_Threatens_Bullish_Trend-_Dovish_ECB_to_Trigger_Shorts_body_Picture_3.png, EURUSD Threatens Bullish Trend- Dovish ECB to Trigger Shorts

Chart - Created Using FXCM Marketscope 2.0

  • Holds November Range Ahead of Advance 3Q GDP
  • Relative Strength Index Carving Higher Highs/Higher Lows
  • Interim Resistance: 10,589 (50.0 retracement) to 10,615 (78.6 expansion)
  • Interim Support: 10,290 (38.2 retracement) to 10,321 (78.6 expansion)





ISM Non-Manufacturing (OCT)




IBD/TIPP Economic Optimism (NOV)




Fed’s Jeffrey Lacker Speaks on Employment


The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) pared the overnight decline to 10,503 as the ISM Non-Manufacturing survey unexpectedly advanced to 55.4 in October, and the greenback may continue to threaten the bearish trend dating back to July as Boston Fed President Eric Rosengren argues that the central bank should be attentive to the possible costs associated with the quantitative easing program.

However, the reserve currency may face range-bound prices going into the advance 3Q GDP report as the world’s largest economy is expected to expand at a slower pace, and a marked slowdown in the growth rate may ultimately produce a lower high in the USDOLLAR as it heighten the Fed’s scope to carry its highly accommodative policy stance into 2014.

In turn, the dollar may face choppy price action until we get through the key data prints on tap for later this week, but we may see the bullish divergence in the Relative Strength Index finally get reflected in price should the fundamental developments top market expectations.

Forex_EURUSD_Threatens_Bullish_Trend-_Dovish_ECB_to_Trigger_Shorts_body_ScreenShot324.png, EURUSD Threatens Bullish Trend- Dovish ECB to Trigger Shorts


Forex_EURUSD_Threatens_Bullish_Trend-_Dovish_ECB_to_Trigger_Shorts_body_Picture_1.png, EURUSD Threatens Bullish Trend- Dovish ECB to Trigger Shorts
  • Threatens Bullish Trend From July; Not Respecting Higher Low
  • Bullish Relative Strength Index Momentum Falters
  • Interim Resistance: 1.3830-40 (61.8 retracement)
  • Interim Support: 1.3490 (50.0 retracement) to 1.3455 (50.0 expansion)

Two of the four components weakened against the greenback, led by a 0.36 percent decline in the Euro, and the single currency may face additional headwinds ahead of the European Central Bank (ECB) interest rate decision as the European Union trims its growth forecast for the monetary union.

As a result, there’s growing bets that the ECB will implement a rate cut at the December 5 meeting, but we may see President Mario Draghi implement his own style of ‘verbal intervention’ in order to combat the growing threat for deflation.

In turn, the EURUSD may struggle to retain the bullish trend dating back to July, and we will be watching the downside targets for the pair as the fundamental outlook for the euro-area deteriorates.

--- Written by David Song, Currency Analyst

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on Analyst on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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