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
More View more
Real Time News
  • Japanese #Yen Forecast: $USDJPY Breakout Imminent- #FOMC Levels - https://t.co/U5iFDDlWPT https://t.co/f1thUfTOg6
  • RT @BrendanFaganFx: 78 counterparties take $1.240 trillion at Fed's fixed-rate reverse repo $USD $DXY https://t.co/IOcumNHCmc
  • here we go - starting right now https://www.dailyfx.com/webinars/643096611 https://t.co/SBRIykorY8
  • SEC Chair Gensler: - Working with Congress on crypto would help - A large number of crypto investors could be harmed
  • Pre-FOMC US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/JPY https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/09/21/Pre-FOMC-US-Dollar-Price-Action-Setups-EUR-USD-EURUSD-GBP-USD-GBPUSD-USD-JPY-USDJPY.html https://t.co/Vyj5hwVXpi
  • The big question is whether the Fed announces taper tomorrow or whether they punt that announcement to the November rate decision, waiting for employment data to improve to the point of ‘significant further progress. More market update from @JStanleyFX :https://t.co/tPoLyqNFc1 https://t.co/o3ES0KKlWr
  • SEC Chair Gensler: - The market is in a better position to absorb global shocks - Securities rules give the SEC great power over crypto
  • feels like we haven't had one of these in quite a while https://www.dailyfx.com/webinars/643096611 Pre-FOMC Price Action Setups, starting right at 1pm, top of the hour 1. USD PA setups 2. Evergrande worries 3. Stonks - fly or die? https://t.co/VF15XbuuJS
  • That all said, staying patient and not chasing is prudent here imo. Tomorrow will likely be better for assessing short-term directional bias (China markets open again following holiday, post-FOMC).
  • Also, S&P Global put out a report overnight that said China would likely step in to curb “far-reaching contagion” re: Evergrande. The House is scheduled to vote on a stopgap funding bill Tuesday, which might be alleviating some investor angst around the debt ceiling as well.
EUR/USD Threatens Monthly Opening Range Ahead of OMT Ruling

EUR/USD Threatens Monthly Opening Range Ahead of OMT Ruling

David Song, Strategist

Talking Points:

- EUR/USD Threatens Monthly Opening Range Ahead of EU Court Ruling on ECB’s OMT Program.

- GBP/USD Range in Focus as BoE Governor Mark Carney Continues to See Higher Interest Rates.

- USDOLLAR Vulnerable to Larger Correction on Dismal Retail Sales Report.

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 remains at risk for a further decline as it threatens monthly opening range, while the Relative Strength Index (RSI) continues to hold in oversold territory.
  • However, may see a relief rally as the European Court of Justice is expected to rule in favor of the European Central Bank’s Outright Monetary Transactions (OMT) program.
  • Seeing increased volatility in the DailyFX Speculative Sentiment Index (SSI) as retail crowd flipped back to net-long EUR/USD on January 13, with the ratio currently standing at +1.39.

GBP/USD

GBP/USD Daily Chart
  • Despite the marked slowdown in the Consumer Price Index (CPI), GBP/USD remains at risk for a larger correction as Bank of England (BoE) Governor Mark Carney continues to see higher borrowing-costs in the U.K., while the RSI comes off of oversold territory.
  • Nevertheless, long-term outlook remains bearish as GBP/USD continues to operate within the downward trending channel carried over from back in June; will watch former support zones for new resistance.
  • Next topside level of interest for GBP/USD comes in around 1.5300 (23.6% retracement) to 1.5320 (78.6% retracement).

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

Read More:

Price & Time: Multi-Month Reversal Triggered in Gold

USDJPY Threatens Opening Range- Sub 118 Targets In View

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11646.86

11678.14

11611.31

0.10

151.16%

EUR/USD Threatens Monthly Opening Range Ahead of OMT RulingUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar struggling to hold its ground despite the slew of better-than-expected confidence surveys; may face sideways price action amid the string of closes above 11,623 (100% expansion).
  • However, a decline in U.S. Retail Sales may dampen the appeal of the greenback & drag on interest rate expectations especially with the 2015 rotation within the Federal Open Market Committee (FOMC).
  • Will continue to watch the near-term range as USDOLLAR remains capped around 11,721 (38.2% expansion).

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

NFIB Small Business Optimism Survey (DEC)

14:00

98.5

100.4

IBD/TIPP Economic Optimism (JAN)

15:00

48.7

51.5

JOLTS Job Openings (NOV)

15:00

4850

4972

Monthly Budget Statement (DEC)

19:00

$3.0B

--

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