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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
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
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/RMk5Eb5fLU
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/KdpSjQSJ8F
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/INdFtsrTTF
  • What is the top market moving theme for the coming week? I disagree with the majority. '$EURUSD, $GBPUSD and $AUDUSD Top Volatility Candidates With #Fed, #Election, #TradeWar' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/07/EURUSD-GBPUSD-and-AUDUSD-Top-Volatility-Candidates-On-Fed-Election-Trade-War.html?CHID=9&QPID=917719 https://t.co/Q1dbZVN5Us
  • The Australian Dollar was focused on its home country in the past week, but that is likely to change sharply in the days ahead with major global risk events coming up. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/yZz3hCyVMx https://t.co/1xw1JHwd7l
  • The #Euro broke chart resistance, threatening to challenge the bounds of its longer -term downtrend against the $USD. Bulls may find it premature to celebrate however. Get your market update from @IlyaSpivak here: https://t.co/VfR13llYbW https://t.co/LiWTvIygxc
  • The $USD appears to be stalling against the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah and Philippine Peso, but technical analysis may still favor USD strength. Get your market update from @ddubrovskyFX here:https://t.co/AZp98MoXKo https://t.co/jgZMUFVGJB
  • The Indian Rupee soared after the Reserve Bank of India surprised with a rate hold. $USDINR may climb as support reinstates the uptrend ahead of Indian CPI and global trade tensions. Get your market update from @ddubrovskyFX here:https://t.co/QEOabsDfMn https://t.co/rqn8Zjrvkv
  • #Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the $XAUUSD weekly chart. Get your $gld technical analysis from @MBForex here: https://t.co/RILBGhLAQZ https://t.co/q5znMUlEQA
  • German Bund Yields Update: 2-Year: -0.639% 3-Year: -0.651% 5-Year: -0.548% 7-Year: -0.480% 10-Year: -0.290% 30-Year: 0.228%
EUR/USD Waits for ECB, Fed Catalyst- GBP Threatens Bearish Momentum

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

2014-09-12 14:40:00
David Song, Currency Strategist
Share:

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

News & Analysis at your fingertips.