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
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
Oil - US Crude
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
Wall Street
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
Gold
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
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • After a miraculous recovery in Q2, equity markets will be left juggling the Fed’s policy and the threat of a second covid wave, all in an election year. Evidently, traders will have their hands full in Q3. Read our equity forecast here: https://t.co/JARqbOKIeM https://t.co/Ms6zEucjqg
  • Hey traders! I'm sure you've all heard about trend trading. Sharpen your knowledge here: https://t.co/jkliL5sxj7 https://t.co/uvlv1MCAHI
  • $GBPUSD posts impressive Q2 recovery, however, what upside challenges lie ahead in Q3? Download our #GBP trading guide to find out: https://t.co/ZE0yjc6wdQ https://t.co/bFa90VJYor
  • RT @DailyFX: What’s the outlook for gold, USD, and the US economy? Jim Rogers shares his thoughts with @DailyFX only on "Trading Global Mar…
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.37% 🇦🇺AUD: 0.22% 🇬🇧GBP: 0.18% 🇪🇺EUR: 0.09% 🇨🇭CHF: 0.00% 🇯🇵JPY: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/2faAkNNk8r
  • Texas virus cases increase 4.3%, above prior 4.2% 7-day average - BBG
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.56% Gold: -0.04% Oil - US Crude: -0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/esKy1uY3rQ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in US 500 are at opposite extremes with 71.69%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HVIXApa0wb
  • 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:https://t.co/vg7w10la3j https://t.co/Mit4oKK16l
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.63% France 40: 0.62% FTSE 100: 0.55% 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/bW5YIX8sRH
EUR/USD Marks Key Low Ahead of ECB; AUD/USD Capped by Former Support

EUR/USD Marks Key Low Ahead of ECB; AUD/USD Capped by Former Support

2014-08-01 15:25:00
David Song, Strategist
Share:

Talking Points:

- EUR/USD Rebounds Ahead of ECB Meeting; Bearish RSI Momentum in Focus

- Watching Former Support on AUD/USD for Resistance; More Verbal Intervention from RBA?

- USDOLLAR Fails to Test April High (10,572) as Non-Farm Payrolls (NFP) Disappoint

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10531.49

10558.6

10518.03

-0.09

149.16%

EUR/USD:

  • Looks like EUR/USD will face a larger rebound ahead of the European Central Bank (ECB) meeting as a the Relative Strength Index (RSI) bounces back from oversold territory.
  • Break of near-term bearish RSI momentum may drive the EUR/USD back towards former support around 1.3500-20.
  • Nevertheless, DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long on EUR/USD, with the ratio standing at +1.61, which continues to favor a long-term bearish outlook.

AUD/USD:

  • Will watch former support around 0.9330-40 for new resistance ahead of the Reserve Bank of Australia (RBA) policy meeting; rates expected to stay on hold at 2.50%.
  • Bearish RSI momentum continues to favor approach to ‘sell bounces’ as the bigger range comes into play; key support stands at 0.9200-10.
  • RBA statement may have most meaningful impact on AUD/USD as Governor Glenn Stevens toughens verbal intervention on the Australian dollar.

For more updates, sign up for David's e-mail distribution list.

EUR/USD Marks Key Low Ahead of ECB; AUD/USD Capped by Former Support

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

US Dollar Eases Back as July NFPs Disappoint High Expectations

Gold the Commodity or Gold the Currency?

USDOLLAR Daily

EUR/USD Marks Key Low Ahead of ECB; AUD/USD Capped by Former Support

Chart - Created Using FXCM Marketscope 2.0

USDOLLAR(Ticker: USDollar):

  • Dow Jones-FXCM U.S. Dollar Index fails to test April high (10,572) as Non-Farm Payrolls (NFP) climbs 209K, jobless rate unexpectedly upticks to 6.2% from 6.1%.
  • Will continue to watch the bullish RSI momentum, but break back below 70 may generate larger pullback.
  • Watching former resistance region around 10,440-50 for new support as the USDOLLAR breaks out of bearish trend.
  • Interim Resistance: 10,555 (50.0% retracement) to 10,561 (100% retracement)
  • Interim Support: 10,440 (78.6% retracement) to 10,450 Pivot

Release

GMT

Expected

Actual

Change in Non-Farm Payrolls (JUL)

12:30

230K

209K

Unemployment Rate (JUL)

12:30

6.1%

6.2%

Labor Force Participation Rate (JUL)

12:30

62.9%

Change in Private Payrolls (JUL)

12:30

227K

198K

Change in Manufacturing Payrolls (JUL)

12:30

15K

28K

Underemployment Rate (JUL)

12:30

12.2%

Change in Household Employment (JUL)

12:30

131

Two-Month Payroll Net Revision (JUL)

12:30

15K

Average Hourly Earnings (MoM) (JUL)

12:30

0.2%

0.0%

Average Hourly Earnings (YoY) (JUL)

12:30

2.2%

2.0%

Average Weekly Hours (JUL)

12:30

34.5

34.5

Personal Income (JUN)

12:30

0.4%

0.4%

Personal Spending (JUN)

12:30

0.4%

0.4%

Personal Consumption Expenditure Deflator (MoM) (JUN)

12:30

0.2%

0.2%

Personal Consumption Expenditure Deflator (YoY) (JUN)

12:30

1.7%

1.6%

Personal Consumption Expenditure Core (MoM) (JUN)

12:30

0.1%

0.1%

Personal Consumption Expenditure Core (YoY) (JUN)

12:30

1.4%

1.5%

Markit Purchasing Manager Index Manufacturing (JUL F)

13:45

56.5

55.8

U. of Michigan Confidence (JUL F)

13:55

81.8

81.8

ISM Manufacturing (JUL)

14:00

56.0

57.1

ISM Prices Paid (JUL)

14:00

58.0

59.5

Construction Spending (MoM) (JUN)

14:00

0.5%

-1.8%

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. 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 DailyFX 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.

DISCLOSURES

News & Analysis at your fingertips.