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
Oil - US Crude
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
Wall Street
Mixed
Gold
Bearish
GBP/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
USD/JPY
Mixed
More View more
Breaking news

ECB leaves monetary policy unchanged

Real Time News
  • Heads Up:🇺🇸 Fed Evans Speech due at 17:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-16
  • US Dollar Price Action Setups: EUR/USD, GBP/USD, AUD/USD https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/07/16/US-Dollar-Price-Action-USD-EURUSD-EUR-USD-GBP-USD-AUD-USD-JS.html $USD $EURUSD $GBPUSD $AUDUSD
  • Senator Blunt says next stimulus bill from GOP could arrive Tuesday - BBG
  • US Treasury Yields: 2-Year: 0.147% 3-Year: 0.169% 5-Year: 0.275% 7-Year: 0.454% 10-Year: 0.610% 30-Year: 1.303% $TNX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in EUR/USD are at opposite extremes with 70.86%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FcASLFRNcz
  • #Gold Price Outlook: $XAUUSD Rally Entering 6th Week– $GLD Breakout Levels - https://t.co/kWu10QhVjX https://t.co/kfiimF2aYY
  • Fed's Bostic says 'the answer is no' on using negative interest rates - BBG
  • Fed's Bostic says risk of deflation not likely a problem if control of virus is established $DXY
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: -0.37% Silver: -0.66% Oil - US Crude: -0.86% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MHCawBh8bz
  • Fed's Bostic says keeping economy closed forever is not feasible - BBG
EUR/USD Vulnerable to Dovish Draghi- USD/JPY Carving Doji?

EUR/USD Vulnerable to Dovish Draghi- USD/JPY Carving Doji?

2014-08-21 15:25:00
David Song, Strategist
Share:

Talking Points:

- EUR/USD to Target 1.3200-20 on Dovish Comments From ECB President Mario Draghi

- USD/JPY Stalls Ahead of 104.00; Doji Warns of Waning Momentum

- USDOLLAR Risks Larger Decline Ahead of Fed Symposium as RSI Stalls at 78 Resistance

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

EUR/USD

EUR/USD Vulnerable to Dovish Draghi- USD/JPY Carving Doji?
  • Despite marking a fresh monthly low of 1.3240, the Relative Strength Index (RSI) appears to be carving a higher-low; European Central Bank (ECB) President is scheduled to speak at the Fed Symposium on Friday at 18:30 GMT.
  • More dovish comments from the ECB raises the risk for a further decline and may generate a move into 1.3200 (100% expansion) to 1.3220 (61.8% retracement).
  • The DailyFX Speculative Sentiment Index (SSI) continues to show retail crowd remains net-long on the EUR/USD as the ratio stands at +1.79.

USD/JPY

EUR/USD Vulnerable to Dovish Draghi- USD/JPY Carving Doji?
  • Struggles to test the April high (104.11) despite the first overbought RSI reading since December; may face a near-term pullback should the oscillator slip below 70.
  • At the same time, if a doji materializes on the USD/JPY, could warn of a larger correction as it straddles channel resistance.
  • Nevertheless, we will retain our approach to ‘buy dips’ in the USD/JPY as it carves a new series of higher highs & lows.

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

Read More:

Price & Time: NOK Bucks the Trend

EUR/USD Slide Continues but EUR Weakness Elsewhere Questionable

USDOLLAR

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10626.23

10652.33

10619.72

-0.06

105.37%

EUR/USD Vulnerable to Dovish Draghi- USD/JPY Carving Doji?EUR/USD Vulnerable to Dovish Draghi- USD/JPY Carving Doji?

Chart - Created Using FXCM Marketscope 2.0

USDOLLAR(Ticker: USDollar):

  • Dow Jones-FXCM U.S. Dollar Index climbs to a fresh monthly high of 10,616 after closing above the key 10,590 pivot, with the RSI pushing back into overbought territory.
  • May see former support (10,615) act as new resistance, especially if the Federal Open Market Committee (FOMC) Minutes fail to prop up interest rate expectations.
  • Need a bearish break in the RSI to look for a more meaningful USDOLLAR correction.
  • Interim Resistance: 10,602 (38.2% retracement) to 10,615 (78.6% expansion)
  • Interim Support: 10,440 (78.6% retracement) to 10,450 Pivot

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Initial Jobless Claims (AUG 16)

12:30

303K

298K

Continuing Claims (AUG 9)

12:30

2520K

2500K

Markit Purchasing Manager Index Manufacturing (AUG P)

13:45

55.7

58.0

Philadelphia Fed. (AUG)

14:00

19.7

28.0

Existing Home Sales (JUL)

14:00

5.02M

5.15M

Existing Home Sales (MoM) (JUL)

14:00

-0.5%

2.4%

Euro-Zone Consumer Confidence (AUG A)

14:00

-9.1

-10.0

Leading Indicators (JUL)

14:00

0.6%

0.9%

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.