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
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
Bearish
GBP/USD
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
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
  • U.S. Market Analyst at https://t.co/JsVsSlWDSh, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEt7a6 https://t.co/VVnzXqhl9r
  • 🇩🇪 Markit Manufacturing PMI Final Actual: 36.6 Expected: 36.8 Previous: 34.5 https://www.dailyfx.com/economic-calendar#2020-06-01
  • What's been driving #gold strength and #USD weakness since the middle of last week, a move that has seemingly ignored the back/forth on #USChina tensions? Here's a theory: domestic US unrest is fueling bets on more #Fed easing. https://t.co/UM8tftiSh6
  • 🇮🇹 Markit/ADACI Manufacturing PMI Actual: 45.4 Expected: 37.1 Previous: 31.1 https://www.dailyfx.com/economic-calendar#2020-06-01
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.58%, while traders in US 500 are at opposite extremes with 75.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/bTOdRb5PFb
  • Heads Up:💶 Markit Manufacturing PMI Final due at 08:00 GMT (15min) Expected: 39.5 Previous: 33.4 https://www.dailyfx.com/economic-calendar#2020-06-01
  • Heads Up:🇩🇪 Markit Manufacturing PMI Final due at 07:55 GMT (15min) Expected: 36.8 Previous: 34.5 https://www.dailyfx.com/economic-calendar#2020-06-01
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 2.57% Gold: 0.66% Oil - US Crude: 0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FYJYOZdWAD
  • Heads Up:🇮🇹 Markit/ADACI Manufacturing PMI due at 07:45 GMT (15min) Expected: 37.1 Previous: 31.1 https://www.dailyfx.com/economic-calendar#2020-06-01
  • China Foreign Ministry says China will meet any US actions with firm countermeasures
EUR/USD Capped by Monthly Opening Range- AUD Retains Bearish Momentum

EUR/USD Capped by Monthly Opening Range- AUD Retains Bearish Momentum

2014-11-17 17:20:00
David Song, Strategist
Share:

Talking Points:

- EUR/USD Holds Opening Monthly Range as ECB Continues to Endorse Dovish Outlook.

- AUD/USD Retains Long-Term Bearish RSI Momentum Ahead of RBA Minutes.

- USDOLLAR Makes Another Attempt to Breakout; Watching RSI for Conviction/Confirmation.

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

  • EUR/USD fails to break the opening monthly high (1.2576) and struggles to hold its ground as the European Central Bank (ECB) is widely expected to lower its growth & inflation forecast at the December 4 policy meeting.
  • Bearish momentum in the Relative Strength Index (RSI) continues to favor the approach to sell-bounces in EUR/USD; a break of the November low (1.2356) would expose 1.2280-90 (100% expansion).
  • Seeing increased volatility in the DailyFX Speculative Sentiment Index (SSI) as retail crowd turns net-long on EUR/USD, with the ratio currently standing at +1.12.

AUD/USD

AUD/USD Daily Chart
  • AUD/USD appears to have made another failed attempt to push back above former support around 0.8760 (61.8% retracement) to 0.8785 (78.6% expansion) especially as the RSI retains the bearish structure carried over from back in April.
  • May see the Reserve Bank of Australia (RBA) Minutes dampen the appeal of the higher-yielding currency as Governor Glenn Stevens retains the verbal intervention on the aussie.
  • Failure to hold the monthly low (0.8539) should expose the next downside objectives around 0.8510 (50% expansion) to 0.8525 (50% expansion).

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

Read More:

Price & Time: EUR/USD Fails At Key Gann Resistance

USDOLLAR and EURUSD Diverge at Turns; Reversal Warning

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11285.71

11296.05

11219.91

0.22

120.54%

EUR/USD Capped by Monthly Opening Range- AUD Retains Bearish MomentumUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Despite the mixed batch of data, the Dow Jones-FXCM U.S. Dollar Index is making another attempt to break out of the wedge/triangle formation; need to see a bullish break in RSI for conviction/confirmation for another topside push.
  • Will monitor the fresh developments entailed in the Federal Open Market Committee’s (FOMC) meeting minutes as a growing number of central bank officials show a greater willingness to normalize monetary policy in mid-2015.
  • Will favor a more meaningful push into the 11,312 (78.6% retracement) and 11,351 (78.6% expansion) region once the RSI breaks out of the bearish formation from the end of September.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Empire Manufacturing (NOV)

13:30

12.00

10.16

Industrial Production (OCT)

14:15

0.2%

-0.1%

Capacity Utilization (OCT)

14:15

79.3%

78.9%

Manufacturing Production (SIC) (OCT)

14:15

0.2%

0.2%

Fed's Charles Evans Speaks on U.S. Economy

15:00

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

News & Analysis at your fingertips.