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
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here: https://t.co/5GO9UrvO4y https://t.co/H76jNJJxU5
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/1TiEWCbJ6t
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/fN2mfHgpON
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:https://t.co/qxQwHgD9Ey https://t.co/ym73tgtHLn
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:https://t.co/HuXPXu5PFU https://t.co/ytHqOoHnxQ
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:https://t.co/OMNoNHn2vZ https://t.co/155l4SQU6P
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:https://t.co/c89gcaNhTt https://t.co/vkLRsG8KEn
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:https://t.co/JoaUMTv80S https://t.co/Hl4I8Gl7Ez
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/6lPNDoWZAw
  • The gold price rebound keeps XAU/USD within the confines of the August downtrend. From a trading standpoint. Get your $XAUUSD market update from @MBForex here:https://t.co/B3Jct6mIBD https://t.co/gHAtO2jcrp
EUR/USD Retail Sentiment Flips; Dovish ECB Rhetoric to Fuel Losses

EUR/USD Retail Sentiment Flips; Dovish ECB Rhetoric to Fuel Losses

David Song, Strategist

Talking Points:

- EUR/USD Retail Sentiment Flips; Dovish ECB Rhetoric to Fuel Losses.

- USDOLLAR Climbs to Fresh Monthly High Even as Fed Expectations Falter.

Avoid the pitfalls of trading by steering clear of classic mistakes. Review these principles in the "Traits of Successful Traders" series.

EUR/USD

EUR/USD Daily Chart

Chart - Created by David Song

  • With the U.K. voting to leave the European Union, EUR/USD may continue to give back the advance from the end of 2016 amid the growing threat for contagion; failure to preserve the upward trend from December may fuel speculation for a head-and-shoulders top especially as the bearish formation in the Relative Strength Index (RSI) continues to take shape.
  • With European Central Bank (ECB) officials on the wires this week, a wave of dovish rhetoric may dampen the appeal of the single-currency should Governing Council officials show a greater willingness to further insulate the monetary union with more non-standard measures.
  • A closing price below the Fibonacci overlap around 1.0960 (23.6% retracement) to 1.0970 (38.2% retracement) may open up the downside targets, with a break below 1.0910 (38.2% expansion) raising the risk of a move back towards 1.0850 (78.6% expansion).
DailyFX SSI
  • The DailyFX Speculative Sentiment Index (SSI) shows the retail crowd flipped net-long EUR/USD coming into the last week of June, with the ratio hitting a near-term extreme at the end of May as it climbed above the +1.00 mark.
  • The ratio currently sits at +1.05 as 51% of traders are long, with short positions 35.5% lower from the previous week as open interest stands 32.0% below the monthly average.

Why and how do we use the SSI in trading? View our video and download the free indicator here

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

US Dollar Index

12028.57

12049.47

11962.05

0.94

117.97%

EUR/USD Retail Sentiment Flips; Dovish ECB Rhetoric to Fuel LossesUSDOLLAR Daily Chart

Chart - Created by David Song

  • The USDOLLAR looks poised to extend the advance following the U.K. Referendum as it shows a greater attempt to break out of the downward trend from earlier this year, while the ‘flight to quality’ gathers pace; may see choppy/whipsaw-like price action going into the end of month/quarter on the back of position adjustments.
  • Nevertheless, heightening uncertainty clouding the global growth outlook may push the Federal Open Market Committee (FOMC) to further delay its normalization cycle, and the greenback stands at risk of facing near-term headwinds as market participants scale back bets for a rate-hike in 2016.
  • A closing price above the Fibonacci overlap around 11,951 (38.2% expansion) to 11,965 (23.6% retracement) may open up the topside targets, with a break of 12,049 (78.6% retracement) to 12,057 (23.6% expansion) raising the risk for a move back towards 12,170 (78.6% retracement) to 12,176 (78.6% expansion).
DailyFX Calendar

Click Here for the DailyFX Calendar

Get our top trading opportunities of 2016 HERE

Read More:

S&P 500: Months of ’Chop’ Wiped Away in One Fell Swoop

GBPUSD, EURUSD & Gold Technical Outlook in a Post Brexit World

NZD/CAD Longs at Risk on Approach of Key Resistance at 9200

Brexit Aftermath Analysis Directory

--- 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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES