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
Mixed
Oil - US Crude
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
Wall Street
Bullish
Gold
Bullish
GBP/USD
Bullish
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
  • (ASEAN Tech) US Dollar Analysis, Downside Bias May Hold: USD/SGD, USD/THB, USD/IDR, USD/PHP #USD $USDSGD $USDTHB $USDIDR $USDPHP #ASEAN https://www.dailyfx.com/forex/technical/article/special_report/2021/04/30/US-Dollar-Analysis-Road-Ahead-Bumpy-USDSGD-USDTHB-USDIDR-USDPHP.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/aWlBsjC5sR
  • Crude Oil Prices May Turn Lower From Key Chart Barrier - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/05/06/Crude-Oil-Prices-May-Turn-Lower-From-Key-Chart-Barrier.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #OOTT #CrudeOil https://t.co/SSZI6r8o6a
  • The Canadian Dollar may resume its broader advance against the Japanese Yen given the less-dovish scope of the BoC compared to the BoJ now and perhaps in the long run.Get your $CAD market update from @ddubrovskyFX here:https://t.co/LjuvBh7pL3 https://t.co/PTZ3l2rwvp
  • Risk trends heading into European and US trading sessions is struggling for conviction. The Dow 'broke' to a fresh record high while the $NDX has its range break lower. Their 10-day correlation is the most negative since June 2018 https://www.dailyfx.com/forex/video/daily_news_report/2021/05/06/EURUSD-and-GBPUSD-Staged-for-Breakouts-but-Where-are-the-Sparks-Before-NFPs.html https://t.co/5IlbQbeZpf
  • 5-year breakeven rate has reached a 13-year high as commodity prices soared. The two exhibited strong positive correlation over the past five years. Will this trend be sustained? https://t.co/qKTv4U3tOZ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.20%, while traders in France 40 are at opposite extremes with 81.43%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dQxPADf7NV
  • Gold prices have slipped lower in recent days. However, this seems to be only a temporary set-back as the long-term technical outlook continues to hint at further gains ahead. Get your $XAUUSD market update from @DanielGMoss here:https://t.co/6Zuyx9UapR https://t.co/o0lDwHEROi
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.05% 🇨🇦CAD: -0.05% 🇬🇧GBP: -0.08% 🇳🇿NZD: -0.15% 🇯🇵JPY: -0.18% 🇦🇺AUD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0Rac5Jbkwc
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.05% Wall Street: -0.04% France 40: -0.05% Germany 30: -0.07% US 500: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9K9bEY3UGo
  • The Dollar is poised with an inverse head-and-shoulders pattern, but it needs a catalyst to make something of the setup. $EURUSD has a wedge and may need to weight for #NFPs but $GBPUSD has the smallest 50-day range since July 2014 and the #BOE later today https://www.dailyfx.com/forex/video/daily_news_report/2021/05/06/EURUSD-and-GBPUSD-Staged-for-Breakouts-but-Where-are-the-Sparks-Before-NFPs.html https://t.co/xOeVyB0SOo
EUR/USD Retail FX Crowd Remains Net-Short Ahead of ECB June Meeting

EUR/USD Retail FX Crowd Remains Net-Short Ahead of ECB June Meeting

David Song, Strategist

Talking Points:

- Euro Rebound at Risk on Dovish European Central Bank (ECB) Rhetoric.

- GBP/USD Continues to Carve Bearish Pattern Ahead of BoE Meeting.

- USDOLLAR Resilience Continues as Fed Officials Highlight 2015 Liftoff.

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

  • Failure to preserve the downward trending channel from the May high (1.1465) may highlight a near-term consolidation in EUR/USD; with the ongoing closes above 1.0850 (78.6% expansion) to 1.0870 (38.2% retracement), may see a move back towards former support around 1.1120 (61.8% retracement).
  • Will keep a very close eye on the fresh batch of rhetoric coming out of the European Central Bank (ECB) as the Governing Council is widely expected to retain its current policy; may see President Mario Draghi pledge to carry out the quantitative easing (QE) program until at least September 2016.
  • DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-short EUR/USD since March 9, with the ratio currently sitting at -1.77 going into June.

GBP/USD

GBP/USD Daily Chart
  • GBP/USD remains at risk for a further decline as it fails to retain the bullish formation carried over from April & continues to carve a series of lower highs & lows going into the end of the month.
  • With the Bank of England (BoE) anticipated to retain a wait-and-see approach in June, may see a limited market reaction should the central bank refrain from releasing a policy statement.
  • In turn, the descending channel in the exchange rate favors the downside target for GBP/USD, with the next level of interest coming in around 1.5180 (23.6% retracement) to 1.5190 (50% retracement).

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

Read More:

Price & Time: GBP/USD Bucking the Trend?

USDJPY Breakout Testing Initial Resistance Ahead of U.S. GDP

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11986.61

12003.46

11971.09

-0.02

49.14%

EUR/USD Retail FX Crowd Remains Net-Short Ahead of ECB June MeetingUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Ongoing closes above 11,960 (61.8% retracement) will continue to favor the topside targets for the Dow Jones-FXCM U.S. Dollar as the bullish formation continue to take shape.
  • Despite mixed results of the 1Q Gross Domestic Product (GDP) report, the slew of key data prints going into the highly anticipated Non-Farm Payrolls (NFP) report may play a greater role in dictation the dollar as well as the Fed outlook as the central bank pledges to look past the weakness during the first three-months of 2015.
  • String of higher-lows in USDOLLAR continues to put 12,049 (78.6% retracement) on the radar.

Join DailyFX on Demand for Real-Time SSI Updates!

EUR/USD Retail FX Crowd Remains Net-Short Ahead of ECB June Meeting

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