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
Bullish
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
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • 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/lvIUu5FHoq
  • 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/bpKdIqGxsn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/jmcAIW4w5k
  • 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/M9isuvnzqF
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here: https://t.co/6Ct5R0H41F https://t.co/c4rXmMjMrv
  • 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/4dhCP5pnxM
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here: https://t.co/kLXZewWBMd https://t.co/w1Nu0z569m
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/Gn41XsGktg
  • 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/2AR1qgx0tz
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here: https://t.co/5rjm2gr3EL https://t.co/aLwhWHMPqz
EUR Breaks Range on Greek Hopes- Relief Bounce at Risk on Dovish ECB

EUR Breaks Range on Greek Hopes- Relief Bounce at Risk on Dovish ECB

David Song, Strategist

Talking Points:

- EUR/USD Retail FX Remains Net-Short Despite Growing Optimism for Greek Deal.

- GBP/USD Threatens Bearish Momentum Ahead of Key U.K. Data, BoE Governor Carney Speech.

- USDOLLAR Retains Bullish Formation Ahead of Fed’s Humphrey-Hawkins Testimony.

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 may face a more meaningful relief bounce amid growing hopes for a Greek deal, but the long-term outlook remains bearish amid the divergence in the monetary policy outlook.
  • European Central Bank (ECB) is likely to retain its pledge to fully-implement its quantitative easing (QE) program, but the single currency remains at risk of facing additional headwinds in the week ahead should President Mario Draghi adopt a more dovish tone this time around.
  • Despite the narrowing risk of a monetary union breakup, the DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-short EUR/USD since March 9, with the ratio coming off of recent extremes to hold at -1.86.

GBP/USD

GBP/USD Daily Chart
  • Positive developments coming out of the Euro-Zone, the U.K.’s largest trading partner, may keep the Bank of England (BoE) on course to normalize monetary policy; will keep a close eye on the fresh commentary from Governor Mark Carney due out next week as the central bank head continues to anticipate a stronger recovery in the second-half of 2015.
  • Despite market expectations for a further slowdown in the U.K. Consumer Price Index (CPI), stickiness in the core rate of inflation paired with another expansion in wage growth may boost the appeal of the sterling as the BoE prepares households and businesses for higher borrowing-costs.
  • A break of the bearish RSI momentum may produce a further advance in the days ahead amid the failed attempt to break/close below 1.5330 (78.6% retracement).

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

Read More:

USD/JPY - Almost Out of the Woods?The Weekly Volume Report: High Turnover Euro Capitulation

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11955.67

11977.32

11918.25

-0.17

100.72%

EUR Breaks Range on Greek Hopes- Relief Bounce at Risk on Dovish ECBUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar may continue track higher next week amid expectations for another increase U.S. Retail Sales, while the CPI is projected to grow an annualized 0.2% after holding flat in May.
  • However, the semi-annual Humphrey-Hawkins Testimony with Fed Chair Janet Yellen may dampen the appeal of the greenback should the central bank head show a greater willingness to further delay the normalization cycle.
  • Nevertheless, will continue to watch the June high (12,043) as USDOLLAR retains the upward trend from mid-June, with 11,898 (50% retracement) to 11,901 (78.6% expansion) seen as near-term support.

Join DailyFX on Demand for Real-Time SSI Updates!

EUR Breaks Range on Greek Hopes- Relief Bounce at Risk on Dovish ECB

--- 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