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.

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
Oil - US Crude
Mixed
Wall Street
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
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
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
More View more
Real Time News
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/TwrOBFgIwj
  • Gold prices were crushed this week as yields continued to climb. But with a big spot of support coming in, can buyers bring a bounce ahead of NFP? Get your market update from @JStanleyFX here: https://t.co/E1TTXVJGUm https://t.co/pD4TeAY3ZP
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/PiLYJDVvtY
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/453MLny2lu
  • The haven-linked US Dollar may be in a position to benefit in the short-run as economic recovery bets support longer-dated Treasury yields, making them more competitive with stocks. Get your market update from @ddubrovskyFX here: https://t.co/BickxlcuZi https://t.co/OdARp4Z1mh
  • The Dow Jones and Nasdaq 100 look to be on diverging technical paths as volatility spikes. Meanwhile, the S&P 500 teeters on support as it splits the difference between its sister indices. Get your market update from @PeterHanksFX here: https://t.co/0gULgIN2kw https://t.co/dzuxyjkXmx
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/yTYG7ote3R
  • The reflation trade is helping to push the oil-linked Canadian Dollar higher as the post-Covid economic outlook clears. The Loonie is reliant on the global economy’s recovery. Get your market update from @FxWestwater here: https://t.co/CYUiH0PCca https://t.co/my6clW7pxY
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/q8Ds7wYrKA
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/qtAmyhFU9A
Euro to Face Draghi Testimony- USD/JPY Threatens Bearish Divergence

Euro to Face Draghi Testimony- USD/JPY Threatens Bearish Divergence

David Song, Strategist

Talking Points:

- EUR/USD Fails to Benefit from Upbeat 3Q GDP Ahead of ECB President Draghi’s Testimony.

- USD/JPY Threatens Bearish RSI Momentum Ahead of Japan 3Q GDP & BoJ Meeting.

- USDOLLAR Marks Fresh Monthly High on Retail Sales- FOMC Minutes in Focus.

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

EUR/USD

EUR/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Despite the better-than-expected 3Q Gross Domestic Product (GDP) report coming out of the euro-area, EUR/USD remains capped ahead of the 1.2500 handle; focus now turns to European Central Bank (ECB) President Mario Draghi’s quarterly testimony to the European parliament.
  • Will continue to favor a bearish outlook for EUR/USD as the Governing Council prepares to implement more non-standard measures in December, with the next downside objective coming in around 1.2280-90 (100% expansion).
  • DailyFX Speculative Sentiment Index (SSI) continues to flip around this week, but retail-crowd are net-short on EUR/USD going into the weekend, with the ratio currently holding at -1.05.

USD/JPY

USD/JPY Daily Chart
  • Will keep a close eye on the Relative Strength Index (RSI) for USD/JPY as the oscillator threatens the bearish momentum carried over from back in September.
  • Beyond Japan’s 3Q GDP report & the Bank of Japan (BoJ) interest rate decision, headlines surrounding the fiscal outlook may further dampen the appeal of the Yen amid the heightening risk for a snap election in December.
  • Long-term outlook for remains bullish for USD/JPY amid the uncertainties surrounding the fiscal & monetary policy outlook for Japan, with the next topside target coming in around 117.00-10 (61.8% expansion).

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

Read More:

The Weekly Volume Report: Low Volume Euro Consolidation A Negative

Almost Everybody Hates Oil

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11260.22

11323.6

11248.06

-0.01

123.03%

Euro to Face Draghi Testimony- USD/JPY Threatens Bearish DivergenceUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Despite the better-than-expected U.S. Retail Sales report, the Dow Jones-FXCM U.S. Dollar Index is struggling to retain the advance to 11,323 even as St. Louis Fed President James Bullard sees scope to raise the benchmark interest rate at the end of 1Q 2015; will Federal Open Market Committee (FOMC) Minutes highlight a greater dissent?
  • Nevertheless, will keep a close eye on the headlines coming out of the G20 Summit in Brisbane amid the growing deviation in monetary policy.
  • Will continue to look for a topside RSI break out of the bearish formation favor a more meaningful push into the 11,312 (78.6% retracement) and 11,351 (78.6% expansion) region.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Advance Retail Sales (MoM) (OCT)

13:30

0.2%

0.3%

Advance Retail Sales ex Auto (MoM) (OCT)

13:30

0.2%

0.3%

Advance Retail Sales ex Auto and Gas (MoM) (OCT)

13:30

0.4%

0.6%

Advance Retail Sales Control Group

13:30

0.4%

0.5%

Import Price Index (MoM) (OCT)

13:30

-1.5%

-1.3%

Import Price Index (YoY) (OCT)

13:30

-1.6%

-1.8%

Fed’s James Bullard Speaks on U.S. Economy

14:10

U. of Michigan Confidence (NOV P)

14:55

87.5

89.4

Business Inventories (SEP)

15:00

0.2%

0.3%

Mortgage Delinquencies (3Q)

15:00

--

5.85%

MBA Mortgage Foreclosures (3Q)

15:00

--

2.39%

Fed’s Fischer, Powell Speak at Fed/ECB Event

21:00

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