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
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/C0i7u1dDKL
  • 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/Q69HKBXeKH
  • (Weekly Technical Outlook) US Dollar Outlook, Key Trend Reversals Playing Out? USD/CAD, AUD/USD, EUR/USD, GBP/USD #USD $USDCAD $AUDUSD $EURUSD $GBPUSD https://www.dailyfx.com/forex/technical/article/special_report/2021/06/20/US-Dollar-Outlook-Key-Trend-Reversals-Playing-Out-USDCAD-AUDUSD-EURUSD-GBPUSD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/7C56bfljV4
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/Gea69MhO04
  • 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/oPaSJLahbE
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/bFOK9RRXtv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/LIumDnHrTo
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/ITdDUGoAL0
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/eF0XS79LgK
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/gaYbbaTnpb
EUR/USD Continues to Carve Lower-Highs; 1.0710 Near-Term Support

EUR/USD Continues to Carve Lower-Highs; 1.0710 Near-Term Support

David Song, Strategist

Talking Points:

- EUR/USD Under Pressure Amid Greek Headlines; Downward Trending Channel in Focus.

- USD/JPY Fails to Hold Above 120.00 Despite Calls for More Bank of Japan (BoJ) Support.

- USDOLLAR Pares Gains Despite Jump in Consumer Confidence- ADP, ISM Manufacturing 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 denying the headline, EUR/USD struggling to hold gains amid news that Greece will not delay its payment to the International Monetary Fund (IMF) due on April 9; may continue to see the downward trending channel take shape as the long-term bearish RSI momentum remains in play.
  • String of lower-highs favors approach to ‘sell-bounces’ in EUR/USD, but need a break/close below 1.0710 (23.6% retracement) to favor a further decline in the exchange rate.
  • DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-short EUR/USD since March 9, with the ratio currently holding at -1.94.

USD/JPY

USD/JPY Daily Chart
  • Lack of momentum to close above 120.00 (61.8% retracement) to 120.20 (50% expansion) may highlight the risk for more range-bound prices in USD/JPY; pair remains at risk of a further consolidation as the RSI retains the bearish trend carried over from December.
  • May see the Japanese Yen face additional headline risk in the days ahead as advisors to Prime Minister Shinzo Abe put increased pressure on the Bank of Japan (BoJ) to further embark on its easing cycle at the April 30 meeting.
  • Despite the long-term bullish sentiment surrounding USD/JPY, may continue to see a narrowing range as market participants weigh the outlook for monetary policy.

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

Read More:

Price & Time: European Powder Keg?

EURAUD Scalps Target Weekly Opening Range- Longs at Risk Sub-1.4175

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

12045.40

12088.61

12026.77

-0.17

70.80%

EUR/USD Continues to Carve Lower-Highs; 1.0710 Near-Term SupportUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar index may continue find near-term resistance around 12,082 (61.8% expansion) amid the slew of dismal data prints coming out of the world’s largest economy; still waiting for a more meaningful break of the bearish RSI momentum to see a resumption of the bullish trend.
  • Keeping a close eye on the opening monthly range going into the highly anticipated Non-Farm Payrolls (NFP) report, but will need to watch the wires as Fed Chair Janet Yellen and New York Fed President William Dudley are scheduled to speak later this week.
  • Failure to close above 12,082 (61.8% expansion) raises the risk for a near-term pullback, with 11,894 (61.8% retracement) to 11,901 (78.6% expansion) holding up as key support.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

MBA Mortgage Applications (MAR 27)

11:00

--

4.6%

ADP Employment Change (MAR)

12:15

225K

189K

Markit Purchasing Manager Index- Manufacturing (MAR F)

13:45

55.3

ISM Manufacturing (MAR)

14:00

52.5

ISM Prices Paid (MAR)

14:00

38.0

Construction Spending (MoM) (FEB)

14:00

-0.1%

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