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
  • 🇺🇸 Markit Manufacturing PMI Flash (SEP) Actual: 60.5 Expected: 61.5 Previous: 61.1 https://www.dailyfx.com/economic-calendar#2021-09-23
  • Heads Up:🇺🇸 CB Leading Index MoM (AUG) due at 14:00 GMT (15min) Expected: 0.7% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-09-23
  • Bank of England left policy measures unchanged as expected with the Bank Rate remaining at 0.1% and gilt purchases at GBP 875bln.Get your $GBP market update from @JMcQueenFX here:https://t.co/px04sJbCuq https://t.co/uwJLHi8YGL
  • $USD pulling back from that Sept high that was set after FOMC yday price action still messy, but a semblance of support around the 93 handle $DXY https://t.co/8HqX3fqvEI
  • Heads Up:🇺🇸 Markit Manufacturing PMI Flash (SEP) due at 13:45 GMT (15min) Expected: 61.5 Previous: 61.1 https://www.dailyfx.com/economic-calendar#2021-09-23
  • Citi bring forward BoE rate hike forecast to Feb 2022 with a 15bps hike and 25bps in May $GBP
  • 🇺🇸 Jobless Claims 4-week Average (SEP/18) Actual: 335.75K Previous: 336.5K https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇺🇸 Initial Jobless Claims (18/SEP) Actual: 351K Expected: 320K Previous: 335K https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇺🇸 Continuing Jobless Claims (11/SEP) Actual: 2845K Expected: 2650K Previous: 2714K https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇺🇸 Chicago Fed National Activity Index (AUG) Actual: 0.29 Previous: 0.75 https://www.dailyfx.com/economic-calendar#2021-09-23
EUR/USD Downside Targets Remain Favored- 1.1300 in Focus

EUR/USD Downside Targets Remain Favored- 1.1300 in Focus

David Song, Strategist

Talking Points:

- EUR/USD Slips to Fresh Monthly Low as ECB Implements EUR 60B/Month QE Program.

- AUD/USD Range Vulnerable to Slowing China Recovery; RSI Structure in Focus.

- USDOLLAR Extends Advance Ahead of FOMC Meeting; Topside Targets on Radar.

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

EUR/USD

EUR/USD Daily

Chart - Created Using FXCM Marketscope 2.0

  • EUR/USD tags a fresh monthly low of 1.1403 as European Central Bank (ECB) unveils EUR 60B/month bond-purchase program, which will run through September 2015.
  • Will retain the approach to sell-bounces in EUR/USD as long as the Relative Strength Index (RSI) holds in oversold territory, with the next key downside target coming in around 1.1300 (161.8% expansion) to 1.1310 (100% expansion).
  • Seeing increased volatility in the DailyFX Speculative Sentiment Index (SSI) as retail-crowd turns net-long EUR/USD following the ECB interest rate decision, with the ratio currently standing at +1.01.

AUD/USD

AUD/USD Daily
  • AUD/USD may preserve the range-bound price action over the remainder of the week as the pair continues to hold above the monthly opening low, while the bullish RSI momentum takes shape.
  • However, aussie may face additional headwinds over the next 24-hours of trade as China’s HSBC Manufacturing survey is expected to show another contraction in business outputs.
  • Nevertheless, need a bearish break in RSI along with a close below 0.8000-20 to favor

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

Read More:

USDMXN Head-and-shoulders On Radar

Price & Time: Regime Change In Gold

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11749.67

11753.51

11669.34

0.40

144.47%

EUR/USD Downside Targets Remain Favored- 1.1300 in FocusUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar breaks out ahead of the Federal Open Market Committee (FOMC) policy meeting on January 28; topside targets favored as RSI pushes back into overbought territory.
  • Interested to see the Fed’s response to the wave of global monetary support especially given the 2015 rotation within the committee.
  • Close above 11,721 (38.2% expansion) should provide conviction/confirmation for a move into 11,774 (50% expansion).

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Initial Jobless Claims (JAN 17)

13:30

300K

Continuing Claims (JAN 10)

13:30

2400K

FHFA House Price Index (MoM) (NOV)

14:00

0.3%

Kansas City Fed Manufacturing Activity (JAN)

16:00

8

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