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
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • 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: https://t.co/SRsG8CxjEn https://t.co/ITdDUGoAL0
  • 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/eF0XS79LgK
  • 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/gaYbbaTnpb
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/HCvzbjEkr6
  • Get our analysts’ view on the key fundamentals for indices in Q2. Download now. https://t.co/Etdyanp76f https://t.co/n2wxfyMsJt
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cBMUg9 https://t.co/5KaUvfGM4I
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/9Bjkh5413e
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/FqAsp91Gia
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cKOUmtj7Dj
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/TnL91f7sl7
EUR/USD Waits for ECB, Fed Catalyst- GBP Threatens Bearish Momentum

EUR/USD Waits for ECB, Fed Catalyst- GBP Threatens Bearish Momentum

David Song, Strategist

Talking Points:

- EUR/USD Holds Tight Range Ahead of ECB’s Targeted LTRO Program

- GBP/USD Risks Further Decline on Dovish BoE Minutes, Scotland Independence

- USDOLLAR Extends Advance Ahead of FOMC Meeting; Forward-Guidance in Focus

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

EUR/USD

EUR/USD Waits for ECB, Fed Catalyst- GBP Threatens Bearish Momentum
  • Looks as though the EUR/USD will face a narrowing range as European Central Bank (ECB) looks to offer the targeted Long-Term Refinance Operation (LTRO) on September 18.
  • Depending on the outcome, ECB’s ‘turbocharged quantitative easing (QE)’ program may come under question on whether the non-standard measure will have the intended impact; may raise bets for more easing.
  • The DailyFX Speculative Sentiment Index (SSI) continues to narrow, but shows retail-crowd remains net-long on EUR/USD as ratio currently stands at +1.24.

GBP/USD

EUR/USD Waits for ECB, Fed Catalyst- GBP Threatens Bearish Momentum
  • GBP/USD looks poised for a larger rebound as the Relative Strength Index (RSI) comes off of oversold territory; need break of bearish momentum to favor topside targets.
  • Seems like Bank of England (BoE) Minutes will continue to show 7-2 split; biggest risk for surprise surrounds the Scotland Referendum, with the vote taking place on September 18.
  • Next key downside region to watch is the 1.6000 handle (50.0% retracement), but need to see a break and closing price above the 1.6280-1.6300 region (former support) to favor a larger rebound.

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

Read More:

AUDCHF Monthly Opening Range Setup- Scalps Target Key Support

Dollar Looks to Fed to Secure Strongest Run in Half a Century

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10872.82

10883.13

10853.66

0.15

74.70%

EUR/USD Waits for ECB, Fed Catalyst- GBP Threatens Bearish MomentumEUR/USD Waits for ECB, Fed Catalyst- GBP Threatens Bearish Momentum

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar Index climbs.
  • A close above 10869 (78.6% retracement) raises the risk of seeing a full retracement of the decline from July 2013 high (11,009) especially as the RSI continues to push deeper into overbought territory.
  • The DailyFX SSI continues to show the retail-crowd remains net-short USD ahead of the Federal Open Market Committee (FOMC) interest rate decision; will look for a more detailed forward-guidance for monetary policy as the central bank looks to halt its asset-purchase program in October.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Advance Retail Sales (AUG)

12:30

0.6%

0.6%

Advance Retail Sales ex Autos (AUG)

12:30

0.3%

0.3%

Advance Retail Sales ex Auto and Gas

12:30

0.5%

0.5%

Advance Retail Sales Control Group (AUG)

12:30

0.5%

0.4%

Import Price Index (MoM) (AUG)

12:30

-1.0%

-0.9%

Import Price Index (YoY) (AUG)

12:30

-0.6%

-0.4%

U. of Michigan Confidence (SEP P)

13:55

83.3

84.6

Business Inventories (JUL)

14:00

0.4%

0.4%

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