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
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
More View more
Real Time News
  • 🇩🇪 Inflation Rate MoM Prel (JUL) Actual: 0.9% Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇩🇪 Inflation Rate YoY Prel (JUL) Actual: 3.8% Expected: 3.3% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇩🇪 Inflation Rate MoM Prel (JUL) due at 12:00 GMT (15min) Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇩🇪 Inflation Rate YoY Prel (JUL) due at 12:00 GMT (15min) Expected: 3.3% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/Puri16DprK
  • 🇪🇸 Business Confidence (JUL) Actual: 1.9 Previous: -0.9 https://www.dailyfx.com/economic-calendar#2021-07-29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.53%, while traders in France 40 are at opposite extremes with 71.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cpwf1asRZe
  • Please join @CVecchioFX at 7:30 EST/11:30 GMT for his central bank monthly webinar. Register here: https://t.co/xRVdZJNZom https://t.co/C45D6aPRIc
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 2.08% Gold: 0.86% Oil - US Crude: 0.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gWiVFBgXuV
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.67% 🇨🇦CAD: 0.47% 🇬🇧GBP: 0.38% 🇪🇺EUR: 0.28% 🇨🇭CHF: 0.18% 🇯🇵JPY: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bdhmxpyRrk
EUR/USD Remains Capped; Eyes Bottom of Range Ahead of ECB Minutes

EUR/USD Remains Capped; Eyes Bottom of Range Ahead of ECB Minutes

David Song, Strategist

Talking Points:

- AUD/USD 2016 Range in Focus as Pair Extends Recent Series of Higher Highs & Lows .

- EUR/USD Remains Capped; Eyes Bottom of Range Ahead of ECB Minutes.

DailyFX

Currency

Last

High

Low

Daily Change (pip)

Daily Range (pip)

AUD/USD

0.7396

0.7404

0.7352

28

52

AUD/USD Daily

AUD/USD Daily Chart

Chart - Created Using Trading View

  • AUD/USD may continue to retrace the decline from the previous month as it extends the recent series of higher highs & lows; the failed test of the May low (0.7145) may bring the 2016 range back into play especially as the Relative Strength Index (RSI) breaks out of the bearish formation carried over from November.
  • Ahead of the Reserve Bank of Australia’s (RBA) February 7 interest rate decision, the region’s 4Q Consumer Price Index (CPI) is likely to take center stage after the headline reading for inflation climbed to an annualized rate of 1.3% during the three-months through September, and a further pick up in price growth may heighten the appeal of the higher-yielding currency as it puts increased pressure on Governor Philip Lowe and Co. to move away from the easing-cycle.
  • A push back above the Fibonacci overlap around 0.7390 (38.2% retracement) to 0.7410 (23.6% expansion) may open up the next topside region of interest around 0.7450 (38.2% retracement) followed by the former-support zone around 0.7530 (38.2% expansion).

Currency

Last

High

Low

Daily Change (pip)

Daily Range (pip)

EUR/USD

1.0507

1.0567

1.0454

47

113

EUR/USD Daily

EUR/USD Daily Chart

Chart - Created Using Trading View

  • Longer-term outlook for EUR/USD remains tilted to the downside as price & the RSI preserve the downward trends carried over from the previous year, but the failure to close below 1.0370 ( 38.2% expansion) may produce range-bound conditions in the exchange rate as the near-term rebound appears to be capped by the Fibonacci overlap around 1.0660 (50% expansion) to 1.0680 (78.6% expansion).
  • With the European Central Bank (ECB) scheduled to release its policy meeting minutes on Thursday, fresh comments from President Mario Draghi and Co. may heighten the bearish outlook surrounding the euro-dollar exchange rate as the Governing Council keeps the door open to expand/extend its quantitative easing (QE) program, while the Federal Reserve appears to be on course to further normalize monetary policy in 2017; with market attention turning to 2017 elections in France and Germany, the ECB may merely try to buy time throughout the first-half of the year amid the uncertainties surrounding the monetary union.
  • May see a move back towards the bottom of the recent range, with a closing price below 1.0470 (38.2% expansion) opening up the next region of interest around 1.0410 (61.8% expansion) to 1.0420 (100% expansion) followed by 1.0270 (61.8% expansion).

For More Updates, Join DailyFX Currency Analyst David Song for LIVE Analysis!

Click HERE for the Entire DailyFX Webinar schedule.

EUR/USD Remains Capped; Eyes Bottom of Range Ahead of ECB Minutes

Click Here for the DailyFX Calendar

If you’re looking for trading ideas, check out our Trading Guides.

Read More:

DAX: Bull-flag Consolidation Taking Shape

Yen Looks To Yield Spread For Direction, Trump Calls Out Toyota

USD/JPY Technical Analysis: Short-Term Look At Recent Pull-Back

January Forex Seasonality Sees Further US Dollar Strength to Start the Year

--- 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